Brokerages Expect Appian Corp (NASDAQ:APPN) Will Announce Earnings of -$0.17 Per Share

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Wall Street analysts predict that Appian Corp (NASDAQ:APPN) will announce earnings of ($0.17) per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Appian’s earnings. The lowest EPS estimate is ($0.18) and the highest is ($0.17). Appian posted earnings of ($0.14) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 21.4%. The firm is expected to announce its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Appian will report full-year earnings of ($0.54) per share for the current year, with EPS estimates ranging from ($0.55) to ($0.53). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.38) per share, with EPS estimates ranging from ($0.44) to ($0.34). Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Appian.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, May 2nd. The company reported ($0.16) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.16). Appian had a negative return on equity of 91.41% and a negative net margin of 24.48%. The company had revenue of $59.58 million during the quarter, compared to the consensus estimate of $59.71 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. Appian’s quarterly revenue was up 15.2% compared to the same quarter last year.

A number of equities analysts have commented on APPN shares. BidaskClub upgraded Appian from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. SunTrust Banks lifted their price target on Appian to $32.00 and gave the company a “hold” rating in a report on Monday, February 25th. Zacks Investment Research raised Appian from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Tuesday, February 26th. Canaccord Genuity lifted their price target on Appian from $27.00 to $33.00 and gave the company a “hold” rating in a report on Friday, February 22nd. Finally, William Blair raised Appian from a “market perform” rating to an “outperform” rating and set a $35.10 price target on the stock in a report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Appian has a consensus rating of “Hold” and an average price target of $33.59.

In other news, Director Michael G. Devine sold 5,000 shares of Appian stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $36.03, for a total transaction of $180,150.00. Following the sale, the director now owns 11,960 shares of the company’s stock, valued at $430,918.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Albert G.W. Biddle III sold 43,994 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.03, for a total value of $1,585,103.82. Following the sale, the director now directly owns 6,088 shares in the company, valued at approximately $219,350.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,271 shares of company stock worth $3,076,165. Corporate insiders own 50.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Roundview Capital LLC raised its holdings in Appian by 1.5% during the fourth quarter. Roundview Capital LLC now owns 80,642 shares of the company’s stock worth $2,154,000 after purchasing an additional 1,183 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Appian by 54.9% during the third quarter. Bank of New York Mellon Corp now owns 18,798 shares of the company’s stock worth $622,000 after purchasing an additional 6,661 shares in the last quarter. King Luther Capital Management Corp bought a new stake in Appian during the fourth quarter worth approximately $240,000. Lindbrook Capital LLC raised its holdings in Appian by 50.0% during the first quarter. Lindbrook Capital LLC now owns 900 shares of the company’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Finally, Tibra Equities Europe Ltd bought a new stake in Appian during the first quarter worth approximately $1,699,000. 28.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of APPN stock opened at $32.78 on Thursday. Appian has a 52 week low of $22.61 and a 52 week high of $43.61.

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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