Appian Corporation (APPN) Releases Q4 Earnings Guidance
Appian Corporation (NASDAQ:APPN) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ($016)-($0.15) for the period, compared to the Thomson Reuters consensus estimate of ($0.16). The company issued revenue guidance of $41.4-$41.9 million, compared to the consensus revenue estimate of $40.77 million.
A number of equities analysts have issued reports on the company. KeyCorp restated a hold rating on shares of Appian Corporation in a report on Monday, September 18th. Canaccord Genuity raised their target price on Appian Corporation from $18.00 to $19.00 and gave the stock a hold rating in a report on Friday, August 4th. Barclays PLC restated an equal weight rating and set a $20.00 target price (up previously from $19.00) on shares of Appian Corporation in a report on Friday, August 4th. Zacks Investment Research upgraded Appian Corporation from a hold rating to a buy rating and set a $30.00 target price on the stock in a report on Wednesday, September 13th. Finally, Cowen and Company cut Appian Corporation from an outperform rating to a market perform rating and set a $23.00 target price on the stock. in a report on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating, The company has an average rating of Hold and a consensus target price of $21.17.
In other Appian Corporation news, major shareholder Abdiel Capital Management, Llc purchased 28,600 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were bought at an average price of $22.14 per share, with a total value of $633,204.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel purchased 65,533 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were acquired at an average cost of $22.23 per share, for a total transaction of $1,456,798.59. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 146,376 shares of company stock worth $3,249,007.
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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