Appian (NASDAQ:APPN) Posts Earnings Results, Misses Estimates By $0.11 EPS

Appian (NASDAQ:APPN) issued its earnings results on Wednesday. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11), Zacks reports. The business had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. Appian had a negative net margin of 14.88% and a negative return on equity of 532.05%. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS.

Appian Trading Up 16.2 %

Shares of NASDAQ APPN opened at $37.23 on Thursday. The business has a fifty day simple moving average of $34.31 and a 200 day simple moving average of $34.04. Appian has a one year low of $26.28 and a one year high of $43.33. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -30.52 and a beta of 1.64.

Insider Activity at Appian

In related news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, the director now directly owns 7,966 shares of the company’s stock, valued at $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 44.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.