Zacks: Analysts Anticipate Appian Corp (APPN) to Announce -$0.17 Earnings Per Share

Equities research analysts predict that Appian Corp (NASDAQ:APPN) will announce ($0.17) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Appian’s earnings, with estimates ranging from ($0.18) to ($0.17). Appian posted earnings of ($0.14) per share in the same quarter last year, which indicates a negative year over year growth rate of 21.4%. The business is scheduled to issue its next quarterly earnings report on Thursday, August 1st.

On average, analysts expect that Appian will report full year earnings of ($0.54) per share for the current financial year, with EPS estimates ranging from ($0.55) to ($0.53). For the next financial year, analysts expect that the business will post earnings of ($0.38) per share, with EPS estimates ranging from ($0.44) to ($0.34). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Appian.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.16) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.16). The firm had revenue of $59.58 million during the quarter, compared to analysts’ expectations of $59.71 million. Appian had a negative return on equity of 91.41% and a negative net margin of 24.48%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) EPS.

A number of brokerages recently issued reports on APPN. Zacks Investment Research lowered Appian from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub lowered Appian from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 30th. Barclays restated a “hold” rating and issued a $32.00 target price on shares of Appian in a research note on Sunday, May 5th. Canaccord Genuity raised their target price on Appian from $27.00 to $33.00 and gave the stock a “hold” rating in a research note on Friday, February 22nd. Finally, SunTrust Banks raised their target price on Appian to $32.00 and gave the stock a “hold” rating in a research note on Monday, February 25th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $32.00.

In related news, VP David Leon Mitchell sold 3,271 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $35.15, for a total transaction of $114,975.65. Following the completion of the transaction, the vice president now owns 10,000 shares in the company, valued at $351,500. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael G. Devine sold 5,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $38.54, for a total transaction of $192,700.00. Following the transaction, the director now owns 11,380 shares of the company’s stock, valued at approximately $438,585.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,218 shares of company stock worth $2,968,528. Insiders own 64.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC boosted its stake in Appian by 50.0% in the first quarter. Lindbrook Capital LLC now owns 900 shares of the company’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of Appian during the fourth quarter worth about $38,000. IFP Advisors Inc boosted its stake in shares of Appian by 29.6% during the fourth quarter. IFP Advisors Inc now owns 1,451 shares of the company’s stock worth $40,000 after buying an additional 331 shares during the period. Advisor Group Inc. boosted its stake in shares of Appian by 12.2% during the fourth quarter. Advisor Group Inc. now owns 2,759 shares of the company’s stock worth $74,000 after buying an additional 300 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Appian during the first quarter worth about $85,000. Hedge funds and other institutional investors own 27.11% of the company’s stock.

Shares of Appian stock traded up $0.62 during trading on Tuesday, reaching $33.51. The company’s stock had a trading volume of 318 shares, compared to its average volume of 491,153. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -41.66 and a beta of 1.79. Appian has a 1-year low of $22.61 and a 1-year high of $43.61.

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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