William Blair Comments on Appian Co.’s Q1 2024 Earnings (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Research analysts at William Blair increased their Q1 2024 earnings estimates for Appian in a research report issued to clients and investors on Wednesday, April 17th. William Blair analyst J. Roberge now anticipates that the company will post earnings of ($0.17) per share for the quarter, up from their prior estimate of ($0.25). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.98) per share. William Blair also issued estimates for Appian’s Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.15) EPS and FY2024 earnings at ($0.89) EPS.

Several other research analysts have also recently commented on the stock. KeyCorp boosted their price target on shares of Appian from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Citigroup increased their target price on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. DA Davidson decreased their price target on Appian from $55.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, Barclays upped their price objective on Appian from $35.00 to $36.00 and gave the stock an “underweight” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Appian has an average rating of “Moderate Buy” and a consensus price target of $48.86.

Appian Stock Down 0.9 %

APPN stock opened at $34.55 on Friday. The company’s 50 day moving average price is $36.45 and its 200 day moving average price is $36.96. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -22.58 and a beta of 1.46. Appian has a fifty-two week low of $30.87 and a fifty-two week 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.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. The business had revenue of $145.32 million for the quarter, compared to analyst estimates of $140.41 million. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Appian

Institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in Appian during the 1st quarter worth $27,000. Headlands Technologies LLC purchased a new position in shares of Appian during the fourth quarter worth about $47,000. Captrust Financial Advisors increased its position in Appian by 44.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock valued at $63,000 after acquiring an additional 404 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Appian during the 1st quarter valued at approximately $109,000. Finally, Tower Research Capital LLC TRC lifted its position in Appian by 144.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock worth $86,000 after acquiring an additional 1,065 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

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.