Appian (NASDAQ:APPN) Shares Gap Up After Better-Than-Expected Earnings

Appian Corporation (NASDAQ:APPN)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $29.33, but opened at $32.01. Appian shares last traded at $34.5080, with a volume of 549,339 shares trading hands.

The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to analysts’ expectations of $174.11 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. Appian has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research downgraded Appian from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Barclays raised their price objective on shares of Appian from $33.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday. Cowen reissued a “hold” rating on shares of Appian in a research note on Thursday. DA Davidson started coverage on shares of Appian in a report on Friday. They issued a “hold” rating and a $38.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Appian in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $35.80.

Hedge Funds Weigh In On Appian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in shares of Appian by 89.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock worth $36,000 after acquiring an additional 564 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Appian by 115.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,653 shares of the company’s stock worth $51,000 after buying an additional 886 shares during the period. Concord Wealth Partners grew its stake in Appian by 21.7% in the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after acquiring an additional 461 shares during the period. Globeflex Capital L P purchased a new stake in Appian in the 2nd quarter worth $90,000. Finally, Headlands Technologies LLC lifted its holdings in Appian by 2,052.0% in the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock valued at $122,000 after purchasing an additional 4,022 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Trading Up 5.0%

The company has a fifty day moving average price of $30.86 and a two-hundred day moving average price of $30.39. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -402.86 and a beta of 1.77.

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.