Appian (NASDAQ:APPN) Issues FY 2021 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $-0.750-$-0.730 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.660. The company issued revenue guidance of $359.30 million-$359.80 million, compared to the consensus revenue estimate of $357 million.Appian also updated its Q4 2021 guidance to $-0.240-$-0.210 EPS.

A number of equities research analysts have commented on the stock. Truist Securities raised shares of Appian from a hold rating to a buy rating and increased their price objective for the company from $105.00 to $116.00 in a research report on Monday, November 8th. Zacks Investment Research cut shares of Appian from a hold rating to a sell rating in a report on Friday, November 12th. Needham & Company LLC lowered their target price on shares of Appian from $186.00 to $170.00 and set a buy rating for the company in a report on Friday, November 5th. Barclays upped their target price on shares of Appian from $77.00 to $90.00 and gave the company an underweight rating in a report on Friday, September 17th. They noted that the move was a valuation call. Finally, Truist upgraded shares of Appian from a hold rating to a buy rating and upped their target price for the company from $105.00 to $116.00 in a report on Monday, November 8th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $120.43.

NASDAQ:APPN traded up $2.95 during trading hours on Thursday, reaching $75.95. 602,283 shares of the company’s stock were exchanged, compared to its average volume of 813,516. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -77.50 and a beta of 1.73. The company has a 50-day moving average of $92.87 and a 200 day moving average of $103.87. Appian has a 1-year low of $69.79 and a 1-year high of $260.00.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.03). The business had revenue of $92.42 million for the quarter, compared to analyst estimates of $91.06 million. Appian had a negative return on equity of 21.63% and a negative net margin of 20.00%. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Equities research analysts forecast that Appian will post -1.03 earnings per share for the current fiscal year.

In other news, General Counsel Christopher Winters sold 4,005 shares of the firm’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $96.85, for a total value of $387,884.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Charles Kramer sold 3,050 shares of the firm’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $96.85, for a total transaction of $295,392.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,120 shares of company stock valued at $1,173,619. 43.90% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Appian stock. Morgan Stanley increased its stake in Appian Co. (NASDAQ:APPN) by 23.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 595,919 shares of the company’s stock after purchasing an additional 112,399 shares during the quarter. Morgan Stanley owned 0.84% of Appian worth $82,087,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 38.33% of the company’s stock.

About Appian

Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, VA.

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