Appian (NASDAQ:APPN) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Appian (NASDAQ:APPN) announced its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.05, Briefing.com reports. Appian had a negative return on equity of 234.57% and a negative net margin of 18.80%. The firm had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. During the same period in the prior year, the business earned ($0.55) EPS. The business’s revenue for the quarter was up 14.7% on a year-over-year basis.

Appian Stock Performance

APPN traded up $0.41 on Friday, hitting $29.84. The company had a trading volume of 1,307,094 shares, compared to its average volume of 927,254. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -20.30 and a beta of 1.47. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.33 and a quick ratio of 1.33. The company’s fifty day moving average price is $31.20 and its 200 day moving average price is $33.72. Appian has a 1-year low of $26.28 and a 1-year high of $52.99.

Insider Buying and Selling at Appian

In other news, Director Albert G.W. Biddle III bought 3,225 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the acquisition, the director now directly owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Appian news, major shareholder Abdiel Capital Advisors, Lp bought 475,000 shares of the stock in a transaction on Friday, July 5th. The shares were purchased at an average price of $30.94 per share, with a total value of $14,696,500.00. Following the acquisition, the insider now directly owns 6,365,304 shares of the company’s stock, valued at approximately $196,942,505.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Albert G.W. Biddle III bought 3,225 shares of the stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $28.02 per share, for a total transaction of $90,364.50. Following the acquisition, the director now directly owns 19,689 shares in the company, valued at $551,685.78. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,381,568 shares of company stock worth $46,783,802 over the last 90 days. Insiders own 44.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on APPN shares. KeyCorp lowered shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday. The Goldman Sachs Group reduced their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday. William Blair lowered shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday. DA Davidson lowered shares of Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays reduced their price target on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Appian presently has a consensus rating of “Hold” and an average price target of $43.00.

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.