$49.71 Million in Sales Expected for Appian Corp (APPN) This Quarter

Equities analysts expect Appian Corp (NASDAQ:APPN) to report sales of $49.71 million for the current quarter, Zacks reports. Three analysts have made estimates for Appian’s earnings, with the highest sales estimate coming in at $49.74 million and the lowest estimate coming in at $49.70 million. Appian posted sales of $44.65 million in the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The company is expected to issue its next earnings report after the market closes on Thursday, November 1st.

On average, analysts expect that Appian will report full-year sales of $214.45 million for the current year, with estimates ranging from $214.16 million to $214.64 million. For the next financial year, analysts anticipate that the business will post sales of $247.59 million, with estimates ranging from $244.60 million to $251.66 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Appian.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, August 2nd. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. Appian had a negative return on equity of 81.10% and a negative net margin of 16.28%. The business had revenue of $59.88 million for the quarter, compared to the consensus estimate of $50.31 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was up 38.6% compared to the same quarter last year.

A number of analysts have recently commented on the company. BidaskClub downgraded Appian from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. Zacks Investment Research downgraded Appian from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Barclays upgraded Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 target price on the stock in a research note on Monday, October 15th. Morgan Stanley upped their target price on Appian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, August 3rd. Finally, Canaccord Genuity upped their target price on Appian from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Appian has an average rating of “Hold” and a consensus price target of $27.29.

Shares of APPN traded down $0.37 during mid-day trading on Friday, reaching $24.14. The company had a trading volume of 413,556 shares, compared to its average volume of 513,330. Appian has a 52-week low of $19.62 and a 52-week high of $43.61. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -39.57 and a beta of 0.56.

In related news, VP Edward L. Hughes sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $31.13, for a total value of $622,600.00. Following the completion of the transaction, the vice president now owns 132,359 shares of the company’s stock, valued at approximately $4,120,335.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Abdiel Capital Management, Llc purchased 54,043 shares of Appian stock in a transaction that occurred on Friday, October 19th. The stock was acquired at an average cost of $23.68 per share, with a total value of $1,279,738.24. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,064,750 shares of company stock worth $29,309,608 and sold 288,500 shares worth $9,788,485. 64.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its holdings in Appian by 240.8% in the 1st quarter. UBS Group AG now owns 6,717 shares of the company’s stock worth $169,000 after purchasing an additional 4,746 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Appian in the 3rd quarter worth about $166,000. California Public Employees Retirement System acquired a new position in Appian in the 2nd quarter worth about $207,000. Commonwealth Equity Services LLC raised its holdings in Appian by 74.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,265 shares of the company’s stock worth $552,000 after purchasing an additional 6,539 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Appian in the 2nd quarter worth about $264,000. 17.30% of the stock is owned by institutional investors.

About Appian

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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