Appian (NASDAQ:APPN) Updates Q4 2021 Earnings Guidance

Appian (NASDAQ:APPN) updated its fourth quarter 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $-0.240-$-0.210 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.180. The company issued revenue guidance of $95 million-$95.50 million, compared to the consensus revenue estimate of $94.15 million.Appian also updated its FY 2021 guidance to $-0.750-$-0.730 EPS.

Several research firms have weighed in on APPN. Truist Securities upgraded shares of Appian from a hold rating to a buy rating and raised their price objective for the company from $105.00 to $116.00 in a research report on Monday, November 8th. Needham & Company LLC lowered their price target on shares of Appian from $186.00 to $170.00 and set a buy rating for the company in a research report on Friday, November 5th. Zacks Investment Research cut shares of Appian from a hold rating to a sell rating in a research report on Friday, November 12th. Barclays lifted their price target on shares of Appian from $77.00 to $90.00 and gave the stock an underweight rating in a research report on Friday, September 17th. They noted that the move was a valuation call. Finally, Truist upgraded shares of Appian from a hold rating to a buy rating and lifted their price target for the stock from $105.00 to $116.00 in a research report on Monday, November 8th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $120.43.

Appian stock traded up $2.95 during midday trading on Thursday, hitting $75.95. 602,283 shares of the stock were exchanged, compared to its average volume of 813,516. The company has a fifty day simple moving average of $93.38 and a two-hundred day simple moving average of $104.07. Appian has a 52 week low of $69.79 and a 52 week high of $260.00. The stock has a market capitalization of $5.41 billion, a PE ratio of -77.50 and a beta of 1.73.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, November 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Appian had a negative return on equity of 21.63% and a negative net margin of 20.00%. The firm had revenue of $92.42 million for the quarter, compared to the consensus estimate of $91.06 million. During the same period in the previous year, the business earned ($0.05) EPS. The firm’s revenue was up 19.6% compared to the same quarter last year. On average, research analysts forecast that Appian will post -1.03 EPS for the current fiscal year.

In related news, insider Robert Charles Kramer sold 3,050 shares of the business’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $96.85, for a total transaction of $295,392.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Christopher Winters sold 4,005 shares of the business’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $96.85, for a total transaction of $387,884.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,120 shares of company stock worth $1,173,619. Insiders own 43.90% of the company’s stock.

A hedge fund recently raised its stake in Appian stock. Morgan Stanley increased its position in shares of Appian Co. (NASDAQ:APPN) by 23.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 595,919 shares of the company’s stock after purchasing an additional 112,399 shares during the quarter. Morgan Stanley owned 0.84% of Appian worth $82,087,000 at the end of the most recent reporting period. 38.33% of the stock is owned by institutional investors and hedge funds.

Appian Company Profile

Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, VA.

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