Equities analysts predict that Appian (NASDAQ:APPN) will post $50.31 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Appian’s earnings, with estimates ranging from $50.30 million to $50.32 million. Appian posted sales of $43.20 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.5%. The firm is scheduled to announce its next earnings results on Thursday, August 2nd.
On average, analysts expect that Appian will report full-year sales of $204.18 million for the current year, with estimates ranging from $203.50 million to $204.65 million. For the next year, analysts forecast that the firm will report sales of $239.67 million per share, with estimates ranging from $236.10 million to $245.12 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Appian.
Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, May 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. Appian had a negative net margin of 19.55% and a negative return on equity of 77.57%. The company had revenue of $51.70 million during the quarter, compared to analysts’ expectations of $46.12 million. The company’s quarterly revenue was up 35.0% on a year-over-year basis.
Several research firms have recently weighed in on APPN. Canaccord Genuity increased their price target on shares of Appian from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, May 4th. Zacks Investment Research raised shares of Appian from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays increased their price target on shares of Appian to $27.00 and gave the company an “underweight” rating in a research note on Friday, February 23rd. BidaskClub cut shares of Appian from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Finally, ValuEngine raised shares of Appian from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Appian has a consensus rating of “Hold” and an average target price of $26.14.
In other news, Director Bobbie G. Kilberg sold 21,220 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $28.01, for a total value of $594,372.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark Steven Lynch sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $25.91, for a total transaction of $388,650.00. Following the completion of the transaction, the chief financial officer now owns 15,000 shares in the company, valued at $388,650. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 780,553 shares of company stock worth $20,417,533 and sold 81,220 shares worth $2,257,672.
Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Appian by 79.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,133 shares of the company’s stock worth $193,000 after acquiring an additional 2,715 shares during the last quarter. Wexford Capital LP lifted its holdings in shares of Appian by 22.9% in the 1st quarter. Wexford Capital LP now owns 17,200 shares of the company’s stock worth $433,000 after acquiring an additional 3,200 shares during the last quarter. UBS Group AG lifted its holdings in shares of Appian by 240.8% in the 1st quarter. UBS Group AG now owns 6,717 shares of the company’s stock worth $169,000 after acquiring an additional 4,746 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Appian by 421.7% in the 4th quarter. Deutsche Bank AG now owns 7,945 shares of the company’s stock worth $250,000 after acquiring an additional 6,422 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Appian in the 4th quarter worth approximately $220,000. Hedge funds and other institutional investors own 16.33% of the company’s stock.
Shares of Appian traded up $0.04, hitting $31.49, during mid-day trading on Thursday, Marketbeat Ratings reports. The stock had a trading volume of 466,113 shares, compared to its average volume of 440,964. Appian has a 12-month low of $14.60 and a 12-month high of $43.26. The stock has a market cap of $1.93 billion and a price-to-earnings ratio of -51.62.
Appian Company Profile
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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