Appian (NASDAQ:APPN) Releases FY 2021 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -0.680–0.650 for the period, compared to the Thomson Reuters consensus estimate of $-0.590. The company issued revenue guidance of $353 million-$355 million, compared to the consensus revenue estimate of $355.44 million.Appian also updated its Q2 2021 guidance to -0.260–0.230 EPS.

Several analysts recently weighed in on the company. Truist increased their target price on Appian from $95.00 to $205.00 in a research note on Friday, February 19th. The Goldman Sachs Group increased their target price on Appian from $84.00 to $180.00 and gave the company a neutral rating in a research note on Thursday, February 25th. Morgan Stanley decreased their target price on Appian from $100.00 to $91.00 and set an underweight rating for the company in a research note on Thursday. Zacks Investment Research downgraded Appian from a hold rating to a sell rating in a research report on Tuesday, May 11th. Finally, Barclays reduced their price objective on Appian from $83.00 to $77.00 and set an underweight rating for the company in a research report on Friday, May 7th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Appian currently has an average rating of Hold and a consensus price target of $113.25.

Shares of APPN stock traded up $5.77 during mid-day trading on Friday, reaching $83.26. The stock had a trading volume of 2,033,288 shares, compared to its average volume of 1,122,514. Appian has a one year low of $44.03 and a one year high of $260.00. The firm’s 50 day simple moving average is $123.77 and its 200 day simple moving average is $149.65. The firm has a market cap of $5.89 billion, a PE ratio of -151.38 and a beta of 2.00.

Appian (NASDAQ:APPN) last issued its earnings results on Wednesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.08. Appian had a negative return on equity of 15.16% and a negative net margin of 13.00%. The business had revenue of $88.86 million during the quarter, compared to analysts’ expectations of $82.71 million. During the same period in the prior year, the firm posted ($0.12) EPS. Appian’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Appian will post -0.6 earnings per share for the current year.

In other news, CRO Eric Calvin Cross sold 2,570 shares of the stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $100.55, for a total value of $258,413.50. Following the completion of the transaction, the executive now directly owns 7,524 shares of the company’s stock, valued at approximately $756,538.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Christopher Winters sold 24,000 shares of the stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $159.13, for a total value of $3,819,120.00. Over the last three months, insiders sold 32,470 shares of company stock valued at $4,899,345. 46.80% of the stock is currently owned by insiders.

About Appian

Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, and other software elements that are needed to be manually coded. The company also offers professional and customer support services.

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