Appian (NASDAQ:APPN) Updates FY 2024 Earnings Guidance

Appian (NASDAQ:APPN) updated its FY 2024 earnings guidance on Saturday. The company provided earnings per share guidance of -0.380–0.350 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

A number of research firms recently issued reports on APPN. Barclays upped 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 reaffirmed a “neutral” rating and set a $33.00 price target on shares of Appian in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.20.

Appian Trading Up 2.0 %

Shares of APPN opened at $37.85 on Friday. Appian has a twelve month low of $26.28 and a twelve month high of $43.33. The company has a market cap of $3.23 billion, a P/E ratio of -31.02 and a beta of 1.57. The company’s fifty day simple moving average is $35.11 and its 200-day simple moving average is $32.59.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 20,014 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were purchased at an average cost of $31.21 per share, for a total transaction of $624,636.94. Following the completion of the acquisition, the insider now owns 9,988,095 shares in the company, valued at approximately $311,728,444.95. This trade represents a 0.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have bought 121,107 shares of company stock valued at $3,871,494. 44.00% of the stock is currently owned by company 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.