Appian (NASDAQ:APPN) Releases FY 2024 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY 2024 earnings guidance on Saturday. The company provided EPS guidance of -0.380–0.350 for the period, compared to the consensus EPS estimate of -0.550. The company issued revenue guidance of $613.0 million-$615.0 million, compared to the consensus revenue estimate of $611.8 million.

Appian Stock Up 2.0 %

Shares of NASDAQ APPN opened at $37.85 on Friday. The business has a 50 day moving average price of $35.11 and a two-hundred day moving average price of $32.60. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $43.33. The firm has a market cap of $3.23 billion, a PE ratio of -31.02 and a beta of 1.57.

Analyst Ratings Changes

A number of equities analysts have commented on APPN shares. The Goldman Sachs Group decreased their target price on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Barclays raised their price target on shares of Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. DA Davidson restated a “neutral” rating and set a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. Finally, KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. One equities 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. According to MarketBeat, Appian currently has an average rating of “Hold” and an average price target of $40.20.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of Appian stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average cost of $33.75 per share, for a total transaction of $346,443.75. Following the completion of the purchase, the insider now owns 10,179,538 shares of the company’s stock, valued at $343,559,407.50. This represents a 0.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have acquired 121,107 shares of company stock worth $3,871,494. 44.00% of the stock is owned by corporate insiders.

Appian Company Profile

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.