Appian (APPN) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Appian (NASDAQ:APPN) issued its quarterly earnings results on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.05, Briefing.com reports. Appian had a negative net margin of 16.28% and a negative return on equity of 81.10%. The company had revenue of $54.95 million during the quarter, compared to analyst estimates of $49.73 million. During the same quarter last year, the business posted ($0.08) EPS. Appian’s quarterly revenue was up 23.1% compared to the same quarter last year. Appian updated its Q4 guidance to ($0.17-0.15) EPS.

APPN traded down $0.26 on Friday, hitting $25.83. The company’s stock had a trading volume of 35,048 shares, compared to its average volume of 602,335. The company has a market cap of $1.61 billion, a PE ratio of -42.30 and a beta of 0.56. Appian has a 12 month low of $19.62 and a 12 month high of $43.61.

In other Appian news, VP Edward L. Hughes sold 20,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $30.65, for a total value of $613,000.00. Following the completion of the transaction, the vice president now directly owns 132,359 shares of the company’s stock, valued at approximately $4,056,803.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Abdiel Capital Management, Llc purchased 54,043 shares of the business’s stock in a transaction on Friday, October 19th. The stock was purchased at an average cost of $23.68 per share, with a total value of $1,279,738.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,080,167 shares of company stock valued at $28,442,017 and sold 268,500 shares valued at $9,165,885. 64.00% of the stock is currently owned by company insiders.

APPN has been the subject of several research analyst reports. Barclays upgraded shares of Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 price target for the company in a research note on Monday, October 15th. BidaskClub lowered shares of Appian from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. Canaccord Genuity raised their price target on shares of Appian from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, August 3rd. Morgan Stanley raised their price target on shares of Appian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, August 3rd. Finally, Zacks Investment Research lowered shares of Appian from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $27.29.

About Appian

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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Earnings History for Appian (NASDAQ:APPN)

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