Appian (NASDAQ:APPN) Issues FY 2021 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $-0.750-$-0.730 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.660. The company issued revenue guidance of $359.30 million-$359.80 million, compared to the consensus revenue estimate of $357 million.Appian also updated its Q4 2021 guidance to $-0.240-$-0.210 EPS.

A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Appian from a hold rating to a sell rating in a report on Friday, November 12th. Barclays boosted their price target on Appian from $77.00 to $90.00 and gave the company an underweight rating in a report on Friday, September 17th. They noted that the move was a valuation call. Truist Securities upgraded Appian from a hold rating to a buy rating and boosted their price target for the company from $105.00 to $116.00 in a report on Monday, November 8th. Truist upgraded Appian from a hold rating to a buy rating and boosted their price target for the company from $105.00 to $116.00 in a report on Monday, November 8th. Finally, Needham & Company LLC cut their price objective on Appian from $186.00 to $170.00 and set a buy rating on the stock in a research report on Friday, November 5th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Appian presently has an average rating of Hold and an average price target of $120.43.

NASDAQ APPN traded up $2.95 during mid-day trading on Thursday, reaching $75.95. The stock had a trading volume of 602,283 shares, compared to its average volume of 813,516. The stock has a market cap of $5.41 billion, a PE ratio of -77.50 and a beta of 1.73. The company has a fifty day moving average price of $92.87 and a 200 day moving average price of $103.87. Appian has a 1 year low of $69.79 and a 1 year high of $260.00.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, November 4th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The company had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $91.06 million. Appian had a negative return on equity of 21.63% and a negative net margin of 20.00%. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) earnings per share. On average, research analysts expect that Appian will post -1.03 earnings per share for the current year.

In related news, CFO Mark Steven Lynch sold 5,065 shares of the firm’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $96.81, for a total transaction of $490,342.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Charles Kramer sold 3,050 shares of Appian stock in a transaction on Monday, November 8th. The shares were sold at an average price of $96.85, for a total transaction of $295,392.50. The disclosure for this sale can be found here. Insiders have sold a total of 12,120 shares of company stock valued at $1,173,619 in the last three months. Insiders own 43.90% of the company’s stock.

An institutional investor recently raised its position in Appian stock. Morgan Stanley lifted its stake in shares of Appian Co. (NASDAQ:APPN) by 23.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 595,919 shares of the company’s stock after purchasing an additional 112,399 shares during the period. Morgan Stanley owned about 0.84% of Appian worth $82,087,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 38.33% of the company’s stock.

About Appian

Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, VA.

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