Appian (APPN) Updates Q1 2019 Earnings Guidance

Appian (NASDAQ:APPN) issued an update on its first quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $-0.17–0.16 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.12. The company issued revenue guidance of $59.5-59.8 million, compared to the consensus revenue estimate of $59.04 million.Appian also updated its FY 2019 guidance to $-0.46–0.42 EPS.

Shares of NASDAQ:APPN traded up $0.43 during trading on Thursday, hitting $38.75. 713,340 shares of the stock were exchanged, compared to its average volume of 579,290. Appian has a 1-year low of $22.61 and a 1-year high of $43.61. The firm has a market capitalization of $2.44 billion, a PE ratio of -63.52 and a beta of 1.85.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, February 21st. The company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. Appian had a negative return on equity of 85.70% and a negative net margin of 19.54%. The company had revenue of $60.22 million for the quarter, compared to analyst estimates of $55.74 million. During the same quarter last year, the firm earned ($0.08) EPS. Appian’s revenue for the quarter was up 19.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Appian will post -0.77 EPS for the current fiscal year.

APPN has been the topic of several recent research reports. BidaskClub raised Appian from a sell rating to a hold rating in a report on Saturday, November 3rd. Goldman Sachs Group initiated coverage on Appian in a report on Friday, February 1st. They set a sell rating and a $26.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $29.17.

In related news, major shareholder Qualified Master Fund L. Abdiel bought 4,945 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was acquired at an average price of $26.21 per share, for a total transaction of $129,608.45. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Christopher Winters sold 2,757 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $35.00, for a total value of $96,495.00. Following the transaction, the general counsel now owns 9,657 shares of the company’s stock, valued at approximately $337,995. The disclosure for this sale can be found here. In the last three months, insiders have bought 630,737 shares of company stock worth $16,123,572 and have sold 42,757 shares worth $1,436,445. 64.00% of the stock is currently owned by company insiders.

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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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