Q1 2024 Earnings Estimate for Appian Co. Issued By DA Davidson (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Equities researchers at DA Davidson raised their Q1 2024 EPS estimates for shares of Appian in a note issued to investors on Wednesday, April 17th. DA Davidson analyst G. Luria now forecasts that the company will earn ($0.18) per share for the quarter, up from their prior forecast of ($0.21). DA Davidson currently has a “Buy” rating and a $52.00 target price on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.98) per share. DA Davidson also issued estimates for Appian’s FY2024 earnings at ($0.90) EPS and FY2025 earnings at ($0.39) EPS.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The business had revenue of $145.32 million for the quarter, compared to analysts’ expectations of $140.41 million.

A number of other equities research analysts have also recently commented on the company. KeyCorp increased their target price on Appian from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Citigroup lifted their target price on shares of Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Barclays upped their target price on shares of Appian from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, April 15th. Finally, William Blair restated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.86.

Appian Stock Down 0.9 %

APPN stock opened at $34.55 on Friday. The business has a 50 day moving average of $36.45 and a 200 day moving average of $36.96. The firm has a market cap of $2.54 billion, a PE ratio of -22.58 and a beta of 1.46. Appian has a twelve month low of $30.87 and a twelve month high of $54.26. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the completion of the transaction, the insider now directly owns 5,890,304 shares of the company’s stock, valued at $191,081,461.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 43.60% of the company’s stock.

Institutional Investors Weigh In On Appian

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Appian in the 1st quarter worth $27,000. Headlands Technologies LLC bought a new position in Appian in the fourth quarter valued at about $47,000. Captrust Financial Advisors boosted its position in Appian by 44.1% in the second quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock worth $63,000 after purchasing an additional 404 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Appian during the 1st quarter valued at about $109,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Appian by 144.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock valued at $86,000 after purchasing an additional 1,065 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

About Appian

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.