Appian (NASDAQ:APPN) Issues Quarterly Earnings Results

Appian (NASDAQ:APPN) announced its quarterly earnings data on Wednesday. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11), Zacks reports. The firm had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.88%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share.

Appian Stock Up 16.2 %

Shares of Appian stock opened at $37.23 on Thursday. Appian has a 12-month low of $26.28 and a 12-month high of $43.33. The stock has a market cap of $3.18 billion, a P/E ratio of -30.52 and a beta of 1.64. The business’s 50 day moving average is $34.31 and its 200-day moving average is $34.04.

Wall Street Analysts Forecast Growth

APPN has been the subject of several research analyst reports. Scotiabank initiated coverage on Appian in a research report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective for the company. KeyCorp reiterated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Finally, Barclays boosted their price objective on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.17.

Insider Transactions at Appian

In other news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the sale, the director now owns 7,966 shares in the company, valued at $308,921.48. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company 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.