Appian Corp (APPN) Expected to Post Quarterly Sales of $55.67 Million
Wall Street brokerages expect that Appian Corp (NASDAQ:APPN) will post $55.67 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Appian’s earnings. The highest sales estimate is $55.72 million and the lowest is $55.60 million. Appian posted sales of $50.56 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.1%. The company is expected to announce its next earnings results after the market closes on Thursday, February 21st.
On average, analysts expect that Appian will report full year sales of $222.18 million for the current financial year, with estimates ranging from $222.06 million to $222.30 million. For the next year, analysts anticipate that the business will report sales of $255.11 million, with estimates ranging from $250.90 million to $259.19 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Appian.
Appian (NASDAQ:APPN) last posted its earnings results on Thursday, February 21st. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. Appian had a negative net margin of 19.54% and a negative return on equity of 85.70%. The business had revenue of $60.22 million for the quarter, compared to analysts’ expectations of $55.74 million. During the same period in the previous year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year.
Shares of NASDAQ APPN traded up $0.43 during trading on Thursday, reaching $38.75. 713,340 shares of the stock were exchanged, compared to its average volume of 579,290. Appian has a twelve month low of $22.61 and a twelve month high of $43.61. The stock has a market cap of $2.44 billion, a P/E ratio of -63.52 and a beta of 1.85.
In related news, VP Edward L. Hughes sold 20,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $29.98, for a total value of $599,600.00. Following the sale, the vice president now directly owns 134,364 shares of the company’s stock, valued at $4,028,232.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel purchased 200,000 shares of the business’s stock in a transaction that occurred on Monday, December 17th. The stock was bought at an average cost of $26.40 per share, for a total transaction of $5,280,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 630,737 shares of company stock worth $16,123,572 and sold 42,757 shares worth $1,436,445. Corporate insiders own 64.00% of the company’s stock.
Large investors have recently modified their holdings of the business. Vanguard Group Inc raised its holdings in shares of Appian by 78.1% during the third quarter. Vanguard Group Inc now owns 1,930,924 shares of the company’s stock worth $63,914,000 after purchasing an additional 847,007 shares during the period. BlackRock Inc. raised its holdings in shares of Appian by 101.7% during the third quarter. BlackRock Inc. now owns 408,944 shares of the company’s stock worth $13,536,000 after purchasing an additional 206,211 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Appian during the fourth quarter worth $210,000. Jane Street Group LLC acquired a new stake in shares of Appian during the third quarter worth $301,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Appian during the third quarter worth $13,801,000. 23.71% of the stock is currently owned by institutional investors.
Appian Company Profile
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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