Analysts Expect Appian Corp (APPN) Will Announce Quarterly Sales of $41.75 Million

Brokerages forecast that Appian Corp (NASDAQ:APPN) will report sales of $41.75 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Appian’s earnings. The lowest sales estimate is $41.70 million and the highest is $41.86 million. The firm is expected to issue its next quarterly earnings results after the market closes on Thursday, February 22nd.

According to Zacks, analysts expect that Appian will report full year sales of $41.75 million for the current year, with estimates ranging from $167.88 million to $168.04 million. For the next financial year, analysts expect that the business will report sales of $194.91 million per share, with estimates ranging from $193.50 million to $196.17 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Appian.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, November 2nd. The company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07.

APPN has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Appian from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. SunTrust Banks initiated coverage on shares of Appian in a research note on Tuesday, November 21st. They issued a “buy” rating and a $28.00 price target for the company. Zacks Investment Research upgraded shares of Appian from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday, November 7th. Morgan Stanley increased their price target on shares of Appian from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Appian in a research note on Monday, November 6th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.57.

Shares of Appian (NASDAQ:APPN) opened at $28.61 on Friday. Appian has a 12 month low of $14.60 and a 12 month high of $43.26.

In related news, major shareholder Abdiel Capital Management, Llc acquired 5,258 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were bought at an average cost of $20.48 per share, with a total value of $107,683.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel acquired 171,523 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average cost of $21.24 per share, for a total transaction of $3,643,148.52. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 962,543 shares of company stock valued at $19,624,763 and sold 1,097,222 shares valued at $21,384,857.

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Appian by 27.9% in the third quarter. JPMorgan Chase & Co. now owns 585,018 shares of the company’s stock valued at $14,673,000 after purchasing an additional 127,545 shares during the period. Wells Fargo & Company MN bought a new position in shares of Appian in the second quarter valued at about $2,162,000. Nepsis Capital Management Inc. bought a new position in shares of Appian in the fourth quarter valued at about $4,306,000. Lord Abbett & CO. LLC bought a new position in shares of Appian in the second quarter valued at about $8,134,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Appian in the second quarter valued at about $370,000. 11.83% of the stock is currently owned by institutional investors.

WARNING: “Analysts Expect Appian Corp (APPN) Will Announce Quarterly Sales of $41.75 Million” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/02/04/analysts-expect-appian-corp-appn-will-announce-quarterly-sales-of-41-75-million.html.

About Appian

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.

Get a free copy of the Zacks research report on Appian (APPN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Appian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply