Appian (NASDAQ:APPN) Posts Quarterly Earnings Results

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

Appian Price Performance

Shares of Appian stock traded up $0.41 during trading on Friday, hitting $29.84. 1,307,094 shares of the company’s stock traded hands, compared to its average volume of 927,254. 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 firm’s fifty day moving average price is $31.20 and its 200 day moving average price is $33.72. Appian has a twelve month low of $26.28 and a twelve month high of $52.99. The company has a market cap of $2.16 billion, a PE ratio of -20.30 and a beta of 1.47.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Appian news, Director Albert G.W. Biddle III bought 3,225 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average cost of $28.02 per share, for a total transaction of $90,364.50. Following the transaction, the director now owns 19,689 shares in the company, valued at $551,685.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Appian news, Director Albert G.W. Biddle III bought 3,225 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average cost of $28.02 per share, for a total transaction of $90,364.50. Following the transaction, the director now owns 19,689 shares in the company, valued at $551,685.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp bought 25,121 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were acquired at an average price of $33.35 per share, for a total transaction of $837,785.35. Following the completion of the transaction, the insider now owns 7,045,647 shares in the company, valued at approximately $234,972,327.45. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,381,568 shares of company stock worth $46,783,802. Corporate insiders own 44.00% of the company’s stock.

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.