Appian Corp (APPN) Expected to Post Quarterly Sales of $63.25 Million

Analysts expect Appian Corp (NASDAQ:APPN) to report sales of $63.25 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Appian’s earnings, with the highest sales estimate coming in at $63.50 million and the lowest estimate coming in at $62.80 million. Appian posted sales of $59.88 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The company is expected to report its next earnings report on Thursday, August 1st.

On average, analysts expect that Appian will report full year sales of $256.46 million for the current fiscal year, with estimates ranging from $255.60 million to $257.00 million. For the next year, analysts expect that the firm will report sales of $299.78 million, with estimates ranging from $296.73 million to $304.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Appian.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). The business had revenue of $59.58 million for the quarter, compared to analysts’ expectations of $59.71 million. Appian had a negative return on equity of 91.41% and a negative net margin of 24.48%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.12) EPS.

A number of analysts recently issued reports on APPN shares. BidaskClub raised Appian from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 30th. Goldman Sachs Group started coverage on Appian in a report on Friday, February 1st. They set a “sell” rating and a $26.00 price objective on the stock. SunTrust Banks increased their price objective on Appian to $32.00 and gave the stock a “hold” rating in a report on Monday, February 25th. Canaccord Genuity increased their price objective on Appian from $27.00 to $33.00 and gave the stock a “hold” rating in a report on Friday, February 22nd. Finally, Zacks Investment Research raised Appian from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Appian has an average rating of “Hold” and an average target price of $32.00.

Shares of APPN opened at $34.15 on Thursday. The stock has a market cap of $2.20 billion, a P/E ratio of -42.69 and a beta of 1.79. Appian has a 52-week low of $22.61 and a 52-week high of $43.61.

In other Appian news, insider Robert Charles Kramer sold 38,947 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.61, for a total value of $1,386,902.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David Leon Mitchell sold 3,271 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $35.15, for a total value of $114,975.65. Following the completion of the sale, the vice president now directly owns 10,000 shares in the company, valued at approximately $351,500. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,218 shares of company stock worth $2,968,528. Insiders own 50.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its holdings in shares of Appian by 12.2% in the 4th quarter. Advisor Group Inc. now owns 2,759 shares of the company’s stock valued at $74,000 after acquiring an additional 300 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Appian by 50.0% in the 1st quarter. Lindbrook Capital LLC now owns 900 shares of the company’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Appian by 29.6% in the 4th quarter. IFP Advisors Inc now owns 1,451 shares of the company’s stock valued at $40,000 after acquiring an additional 331 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in shares of Appian by 5.3% in the 1st quarter. ExodusPoint Capital Management LP now owns 15,288 shares of the company’s stock valued at $526,000 after acquiring an additional 766 shares in the last quarter. Finally, Roundview Capital LLC increased its position in shares of Appian by 1.0% during the 1st quarter. Roundview Capital LLC now owns 81,462 shares of the company’s stock valued at $2,805,000 after purchasing an additional 820 shares during the last quarter. 26.70% of the stock is currently owned by hedge funds and other institutional investors.

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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