Appian (NASDAQ:APPN) Updates FY24 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ($0.85)-($0.79) for the period, compared to the consensus estimate of ($0.68). The company issued revenue guidance of $615-617 million, compared to the consensus revenue estimate of $615.63 million. Appian also updated its Q2 guidance to ($0.34)-($0.28) EPS.

Analyst Upgrades and Downgrades

APPN has been the subject of several recent analyst reports. William Blair reaffirmed an outperform rating on shares of Appian in a research note on Wednesday, March 20th. KeyCorp dropped their price objective on Appian from $50.00 to $37.00 and set an overweight rating for the company in a report on Friday. DA Davidson reduced their target price on Appian from $55.00 to $52.00 and set a buy rating on the stock in a research note on Monday, March 4th. Citigroup raised their price target on Appian from $48.00 to $52.00 and gave the stock a neutral rating in a research note on Friday, March 22nd. Finally, Barclays reduced their price objective on shares of Appian from $36.00 to $32.00 and set an underweight rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $46.43.

Appian Trading Up 3.1 %

Appian stock traded up $0.95 on Friday, hitting $31.98. 795,544 shares of the stock traded hands, compared to its average volume of 577,887. Appian has a 1 year low of $28.22 and a 1 year high of $54.26. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The business’s fifty day simple moving average is $36.71 and its 200 day simple moving average is $36.45.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.33. The company had revenue of $145.32 million during the quarter, compared to analysts’ expectations of $140.41 million. Appian had a negative net margin of 19.20% and a negative return on equity of 146.23%. Research analysts expect that Appian will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the transaction, the insider now directly owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 43.60% of the company’s stock.

Appian Company Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.