Equities analysts predict that Appian Corp (NASDAQ:APPN) will announce earnings per share (EPS) of ($0.16) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Appian’s earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.16). Appian reported earnings per share of ($0.12) in the same quarter last year, which would indicate a negative year over year growth rate of 33.3%. The business is expected to report its next earnings report on Thursday, May 2nd.
According to Zacks, analysts expect that Appian will report full-year earnings of ($0.45) per share for the current year, with EPS estimates ranging from ($0.47) to ($0.44). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.32) per share, with EPS estimates ranging from ($0.37) to ($0.28). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Appian.
Get Appian alerts:Appian (NASDAQ:APPN) last posted its earnings results on Thursday, February 21st. The company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. Appian had a negative return on equity of 97.30% and a negative net margin of 21.81%. The firm had revenue of $60.22 million during the quarter, compared to analyst estimates of $55.74 million. During the same period in the previous year, the company earned ($0.08) EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis.
A number of brokerages have recently commented on APPN. Zacks Investment Research lowered Appian from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Canaccord Genuity upped their price target on Appian from $27.00 to $33.00 and gave the stock a “hold” rating in a report on Friday, February 22nd. SunTrust Banks upped their price target on Appian to $32.00 and gave the stock a “hold” rating in a report on Monday, February 25th. BidaskClub upgraded Appian from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Finally, Goldman Sachs Group began coverage on Appian in a report on Friday, February 1st. They set a “sell” rating and a $26.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Appian currently has a consensus rating of “Hold” and an average target price of $31.50.
In related news, insider Robert Charles Kramer sold 38,947 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.61, for a total value of $1,386,902.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Abdiel Capital Management, Llc bought 133,928 shares of the business’s stock in a transaction that occurred on Friday, December 21st. The stock was purchased at an average price of $24.56 per share, with a total value of $3,289,271.68. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 630,737 shares of company stock valued at $16,123,572 and sold 91,704 shares valued at $3,317,548. Corporate insiders own 64.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of APPN. Vanguard Group Inc raised its stake in shares of Appian by 78.1% in the third quarter. Vanguard Group Inc now owns 1,930,924 shares of the company’s stock valued at $63,914,000 after purchasing an additional 847,007 shares in the last quarter. Vanguard Group Inc. grew its position in Appian by 78.1% in the third quarter. Vanguard Group Inc. now owns 1,930,924 shares of the company’s stock valued at $63,914,000 after acquiring an additional 847,007 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Appian in the third quarter valued at $13,801,000. BlackRock Inc. grew its position in Appian by 101.7% in the third quarter. BlackRock Inc. now owns 408,944 shares of the company’s stock valued at $13,536,000 after acquiring an additional 206,211 shares during the period. Finally, Morgan Stanley grew its position in Appian by 94.7% in the third quarter. Morgan Stanley now owns 246,706 shares of the company’s stock valued at $8,166,000 after acquiring an additional 120,026 shares during the period. Institutional investors and hedge funds own 23.71% of the company’s stock.
Shares of APPN stock traded down $0.14 during trading hours on Wednesday, reaching $35.36. 407,300 shares of the company’s stock were exchanged, compared to its average volume of 578,384. Appian has a fifty-two week low of $22.61 and a fifty-two week high of $43.61. The firm has a market cap of $2.30 billion, a PE ratio of -44.20 and a beta of 1.85.
About Appian
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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