Wall Street analysts expect Appian Corp (NASDAQ:APPN) to report $55.67 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Appian’s earnings. The highest sales estimate is $55.72 million and the lowest is $55.60 million. Appian reported sales of $50.56 million in the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The firm is scheduled to report its next earnings report after the market closes on Thursday, February 21st.
According to Zacks, analysts expect that Appian will report full-year sales of $222.18 million for the current fiscal year, with estimates ranging from $222.06 million to $222.30 million. For the next financial year, analysts anticipate that the business will report sales of $255.11 million, with estimates ranging from $250.90 million to $259.19 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Appian.
A number of research analysts recently weighed in on APPN shares. Goldman Sachs Group started coverage on Appian in a report on Friday, February 1st. They issued a “sell” rating and a $26.00 target price on the stock. BidaskClub upgraded Appian from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.17.
Several institutional investors and hedge funds have recently modified their holdings of APPN. Vanguard Group Inc. increased its position in shares of Appian by 78.1% during the third quarter. Vanguard Group Inc. now owns 1,930,924 shares of the company’s stock worth $63,914,000 after acquiring an additional 847,007 shares during the last quarter. Vanguard Group Inc increased its position in shares of Appian by 78.1% during the third quarter. Vanguard Group Inc now owns 1,930,924 shares of the company’s stock worth $63,914,000 after acquiring an additional 847,007 shares during the last quarter. EastBay Asset Management LLC purchased a new stake in shares of Appian during the fourth quarter worth about $20,564,000. BlackRock Inc. increased its position in shares of Appian by 18.3% during the fourth quarter. BlackRock Inc. now owns 483,748 shares of the company’s stock worth $12,921,000 after acquiring an additional 74,804 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Appian during the third quarter worth about $13,801,000. Institutional investors own 22.86% of the company’s stock.
Shares of Appian stock opened at $37.15 on Thursday. Appian has a twelve month low of $22.61 and a twelve month high of $43.61. The firm has a market capitalization of $2.38 billion, a P/E ratio of -60.90 and a beta of 1.85.
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.
Further Reading: What is dollar cost averaging (DCA)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Appian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian and related companies with MarketBeat.com's FREE daily email newsletter.