Appian (NASDAQ:APPN) Updates Q4 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $(0.03)-$0.00 for the period, compared to the consensus earnings per share estimate of $0.05. The company issued revenue guidance of $163.5-$165.5 million, compared to the consensus revenue estimate of $164.36 million. Appian also updated its Q4 2024 guidance to -0.030-0.000 EPS.

Appian Stock Up 4.7 %

NASDAQ APPN opened at $40.50 on Thursday. Appian has a 52 week low of $26.28 and a 52 week high of $42.17. The stock’s 50-day moving average price is $33.01 and its 200-day moving average price is $32.13. The company has a market capitalization of $2.93 billion, a P/E ratio of -27.18 and a beta of 1.57.

Wall Street Analysts Forecast Growth

APPN has been the subject of several research analyst reports. Barclays cut their target price on Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, August 5th. DA Davidson restated a “neutral” rating and set a $33.00 price target on shares of Appian in a report on Monday, October 14th. The Goldman Sachs Group lowered their price objective on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Finally, KeyCorp lowered Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Appian has an average rating of “Hold” and a consensus target price of $39.20.

Insider Activity

In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 274,583 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $30.05 per share, with a total value of $8,251,219.15. Following the purchase, the insider now owns 9,092,617 shares of the company’s stock, valued at approximately $273,233,140.85. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 894,276 shares of company stock valued at $27,099,351 in the last ninety days. Insiders own 44.00% of the company’s stock.

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.