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

Appian (NASDAQ:APPN) posted its quarterly earnings results on Wednesday. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11), Zacks reports. The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. Appian’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Appian Trading Down 7.0 %

Shares of NASDAQ:APPN opened at $34.63 on Friday. Appian has a twelve month low of $26.28 and a twelve month high of $43.33. The company has a 50-day moving average price of $34.20 and a two-hundred day moving average price of $34.06.

Insiders Place Their Bets

In other news, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 in the company, valued at approximately $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 44.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APPN. Barclays increased their price target on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. KeyCorp restated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Finally, Scotiabank assumed coverage on shares of Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Appian presently has a consensus rating of “Hold” and an average target price of $40.17.

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.