Appian (NASDAQ:APPN) Updates FY24 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.85)-($0.79) for the period, compared to the consensus earnings per share estimate of ($0.68). The company issued revenue guidance of $615-617 million, compared to the consensus revenue estimate of $615.63 million. Appian also updated its Q2 guidance to ($0.34)-($0.28) EPS.

Appian Price Performance

APPN opened at $36.73 on Thursday. The business has a 50-day moving average of $36.75 and a 200-day moving average of $36.61. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. Appian has a fifty-two week low of $30.87 and a fifty-two week high of $54.26.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. The business had revenue of $145.32 million for the quarter, compared to the consensus estimate of $140.41 million. Equities research analysts anticipate that Appian will post -0.9 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on APPN. William Blair reaffirmed an outperform rating on shares of Appian in a research report on Wednesday, March 20th. Barclays lifted their price objective on Appian from $35.00 to $36.00 and gave the stock an underweight rating in a report on Monday, April 15th. KeyCorp lifted their price objective on Appian from $45.00 to $50.00 and gave the stock an overweight rating in a report on Friday, February 16th. Citigroup lifted their price objective on Appian from $48.00 to $52.00 and gave the stock a neutral rating in a report on Friday, March 22nd. Finally, DA Davidson decreased their price target on Appian from $55.00 to $52.00 and set a buy rating on the stock in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $48.86.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.44, for a total value of $12,976,000.00. Following the completion of the transaction, the insider now directly owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 43.60% of the stock is currently owned by corporate insiders.

About Appian

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.