Appian (NASDAQ:APPN) Updates Q3 2024 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of -0.100–0.060 for the period, compared to the consensus earnings per share estimate of -0.180. The company issued revenue guidance of $149.0 million-$153.0 million, compared to the consensus revenue estimate of $155.6 million. Appian also updated its FY 2024 guidance to -0.610–0.520 EPS.

Appian Price Performance

Appian stock opened at $36.94 on Thursday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.33 and a current ratio of 1.33. Appian has a 1-year low of $26.28 and a 1-year high of $52.99. The stock’s 50 day moving average price is $31.26 and its 200 day moving average price is $33.77.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The firm had revenue of $149.80 million for the quarter, compared to analyst estimates of $149.78 million. Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.42) earnings per share. Equities analysts anticipate that Appian will post -1.38 EPS for the current year.

Wall Street Analysts Forecast Growth

APPN has been the subject of a number of analyst reports. DA Davidson cut Appian from a strong-buy rating to a hold rating in a report on Wednesday. KeyCorp boosted their price target on Appian from $37.00 to $41.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. Finally, Barclays cut their price target on Appian from $36.00 to $32.00 and set an underweight rating for the company in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Appian has an average rating of Hold and a consensus target price of $44.29.

Insider Buying and Selling at Appian

In related news, Director Albert G.W. Biddle III bought 3,225 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $28.02 per share, with a total value of $90,364.50. Following the completion of the transaction, the director now directly owns 19,689 shares of the company’s stock, valued at $551,685.78. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Appian news, Director Albert G.W. Biddle III acquired 3,225 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were bought 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 of the company’s stock, valued at $551,685.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Abdiel Capital Advisors, Lp bought 150,000 shares of Appian stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average price of $36.74 per share, with a total value of $5,511,000.00. Following the completion of the purchase, the insider now owns 8,105,847 shares in the company, valued at approximately $297,808,818.78. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,381,568 shares of company stock valued at $46,783,802. Company 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.