Appian (NASDAQ:APPN) Issues Q4 Earnings Guidance

Appian (NASDAQ:APPN - Get Free Report) 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 Price Performance

Appian stock traded up $1.04 during mid-day trading on Thursday, reaching $41.54. The company had a trading volume of 642,227 shares, compared to its average volume of 550,929. The stock's 50-day simple moving average is $33.01 and its 200-day simple moving average is $32.13. Appian has a 1 year low of $26.28 and a 1 year high of $43.33. The company has a market capitalization of $3.01 billion, a P/E ratio of -27.88 and a beta of 1.57.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays reduced their target price on Appian from $32.00 to $29.00 and set an "underweight" rating on the stock in a report on Monday, August 5th. The Goldman Sachs Group dropped their target price on shares of Appian from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. DA Davidson restated a "neutral" rating and issued a $33.00 price target on shares of Appian in a report on Monday, October 14th. William Blair downgraded shares of Appian from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 1st. Finally, KeyCorp downgraded shares of Appian from an "overweight" rating to a "sector weight" rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $39.20.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was acquired at an average cost of $33.75 per share, with a total value of $346,443.75. Following the acquisition, the insider now owns 10,179,538 shares in the company, valued at approximately $343,559,407.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 894,276 shares of company stock worth $27,099,351 in the last 90 days. 44.00% of the stock is owned by company insiders.

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.