Appian (NASDAQ:APPN) Issues FY 2024 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided EPS guidance of -0.380–0.350 for the period, compared to the consensus EPS estimate of -0.550. The company issued revenue guidance of $613.0 million-$615.0 million, compared to the consensus revenue estimate of $611.8 million.

Appian Stock Performance

Shares of APPN stock opened at $37.85 on Friday. Appian has a one year low of $26.28 and a one year high of $43.33. The company has a 50 day moving average price of $35.11 and a 200 day moving average price of $32.60. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -31.02 and a beta of 1.57.

Wall Street Analysts Forecast Growth

APPN has been the subject of several research reports. KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Barclays raised their price objective on Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group lowered their target price on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, DA Davidson reissued a “neutral” rating and set a $33.00 price target on shares of Appian in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.20.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp purchased 23,053 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average cost of $30.22 per share, for a total transaction of $696,661.66. Following the completion of the purchase, the insider now owns 10,036,046 shares of the company’s stock, valued at approximately $303,289,310.12. This trade represents a 0.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 121,107 shares of company stock worth $3,871,494 in the last three months. 44.00% of the stock is owned by insiders.

Appian Company Profile

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.