Equities Analysts Set Expectations for Appian Co.’s Q1 2024 Earnings (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Equities researchers at William Blair raised their Q1 2024 earnings per share (EPS) estimates for shares of Appian in a research report issued on Wednesday, April 17th. William Blair analyst J. Roberge now expects that the company will post earnings of ($0.17) per share for the quarter, up from their prior forecast of ($0.25). William Blair has a “Outperform” rating on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.98) per share. William Blair also issued estimates for Appian’s Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.15) EPS and FY2024 earnings at ($0.89) EPS.

A number of other equities analysts have also recently commented on the company. Citigroup lifted their price target on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. KeyCorp boosted their target price on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Barclays boosted their target price on Appian from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Monday. Finally, DA Davidson reduced their target price 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.86.

Appian Stock Down 1.5 %

Shares of Appian stock opened at $34.86 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. The business’s 50 day simple moving average is $36.42 and its two-hundred day simple moving average is $37.03. Appian has a one year low of $30.87 and a one year high of $54.26.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. The company had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%.

Institutional Investors Weigh In On Appian

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Appian by 3.4% in the third quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after acquiring an additional 147,785 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Appian during the fourth quarter valued at $308,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Appian by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 319,750 shares of the company’s stock valued at $14,584,000 after purchasing an additional 9,900 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Appian during the third quarter valued at $14,884,000. Finally, Graham Capital Management L.P. bought a new position in shares of Appian during the third quarter valued at $560,000. 52.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction on 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 sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 43.60% of the stock is owned by 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.