Appian (NASDAQ:APPN) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Appian (NASDAQ:APPNGet Rating) announced its earnings results on Thursday. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16, Fidelity Earnings reports. The business had revenue of $110.06 million for the quarter, compared to analyst estimates of $103.97 million. Appian had a negative net margin of 29.34% and a negative return on equity of 37.92%. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.31) earnings per share.

Appian Trading Down 1.7 %

APPN stock traded down $0.96 on Friday, hitting $54.46. The company’s stock had a trading volume of 387,758 shares, compared to its average volume of 304,363. The firm has a 50 day moving average of $48.94 and a two-hundred day moving average of $52.42. Appian has a 1 year low of $38.78 and a 1 year high of $115.68. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -31.66 and a beta of 1.60.

Insider Activity at Appian

In related news, insider Pavel Zamudio-Ramirez sold 2,165 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $54.62, for a total value of $118,252.30. Following the completion of the sale, the insider now owns 8,225 shares in the company, valued at approximately $449,249.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Abdiel Capital Management, Llc acquired 103,390 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was bought at an average price of $41.38 per share, for a total transaction of $4,278,278.20. Following the transaction, the insider now owns 8,103,390 shares in the company, valued at $335,318,278.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pavel Zamudio-Ramirez sold 2,165 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $54.62, for a total transaction of $118,252.30. Following the transaction, the insider now owns 8,225 shares of the company’s stock, valued at approximately $449,249.50. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 417,030 shares of company stock worth $18,924,261 and sold 16,082 shares worth $908,684. 43.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Appian

A number of large investors have recently bought and sold shares of APPN. PNC Financial Services Group Inc. grew its stake in shares of Appian by 13.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company’s stock worth $153,000 after purchasing an additional 305 shares during the period. US Bancorp DE grew its stake in shares of Appian by 8.1% during the 1st quarter. US Bancorp DE now owns 5,838 shares of the company’s stock worth $355,000 after purchasing an additional 439 shares during the period. Rhumbline Advisers grew its stake in shares of Appian by 1.1% during the 1st quarter. Rhumbline Advisers now owns 42,444 shares of the company’s stock worth $2,581,000 after purchasing an additional 453 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Appian by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 166,769 shares of the company’s stock worth $10,142,000 after purchasing an additional 501 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Appian by 15.2% during the 1st quarter. Raymond James & Associates now owns 3,816 shares of the company’s stock worth $232,000 after purchasing an additional 503 shares during the period. Hedge funds and other institutional investors own 80.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on APPN shares. The Goldman Sachs Group assumed coverage on shares of Appian in a research note on Wednesday, April 27th. They set a “buy” rating and a $70.00 target price on the stock. Barclays lowered their price target on shares of Appian from $47.00 to $42.00 and set an “underweight” rating for the company in a report on Tuesday, April 19th. Finally, Berenberg Bank assumed coverage on shares of Appian in a report on Friday, June 10th. They set a “buy” rating and a $63.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.33.

About Appian

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Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded. The company also offers professional and customer support services.

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Earnings History for Appian (NASDAQ:APPN)

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