Zacks: Brokerages Anticipate Appian Corp (APPN) Will Announce Earnings of -$0.16 Per Share

Equities analysts expect Appian Corp (NASDAQ:APPN) to report earnings of ($0.16) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Appian’s earnings. The highest EPS estimate is ($0.15) and the lowest is ($0.16). The firm is scheduled to report its next quarterly earnings results after the market closes on Thursday, February 22nd.

According to Zacks, analysts expect that Appian will report full-year earnings of ($0.39) per share for the current fiscal year, with EPS estimates ranging from ($0.40) to ($0.38). For the next year, analysts expect that the firm will post earnings of ($0.46) per share, with EPS estimates ranging from ($0.50) to ($0.43). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Appian.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, November 2nd. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07.

A number of brokerages have commented on APPN. SunTrust Banks cut Appian from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a report on Monday, January 8th. Barclays lowered Appian from an “equal weight” rating to an “underweight” rating and set a $26.00 price target on the stock. in a research note on Monday, January 8th. BidaskClub raised Appian from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 6th. Goldman Sachs Group lowered Appian from a “neutral” rating to a “sell” rating and set a $17.00 price target on the stock. in a research note on Thursday, January 18th. Finally, William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research note on Friday, January 19th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $23.57.

Appian (APPN) traded down $1.00 on Friday, hitting $27.61. The company had a trading volume of 144,493 shares, compared to its average volume of 705,413. Appian has a 1-year low of $14.60 and a 1-year high of $43.26.

In other Appian news, Director Michael J. Mulligan sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.49, for a total value of $389,800.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $389,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Abdiel Capital Management, Llc acquired 5,258 shares of the business’s stock in a transaction on Monday, December 4th. The stock was bought at an average cost of $20.48 per share, for a total transaction of $107,683.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 962,543 shares of company stock worth $19,624,763 and sold 1,097,222 shares worth $21,384,857.

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Appian by 27.9% in the third quarter. JPMorgan Chase & Co. now owns 585,018 shares of the company’s stock worth $14,673,000 after purchasing an additional 127,545 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Appian in the second quarter worth about $8,134,000. Vanguard Group Inc. acquired a new position in Appian in the second quarter worth about $7,105,000. Gilder Gagnon Howe & Co. LLC grew its stake in Appian by 25.0% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 307,117 shares of the company’s stock worth $9,668,000 after purchasing an additional 61,344 shares in the last quarter. Finally, Nepsis Capital Management Inc. acquired a new position in Appian in the fourth quarter worth about $4,306,000. Institutional investors own 11.83% of the company’s stock.

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Appian Company Profile

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

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