Analysts expect Appian Corp (NASDAQ:APPN) to announce $49.71 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Appian’s earnings. The lowest sales estimate is $49.70 million and the highest is $49.74 million. Appian reported sales of $44.65 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.3%. The company is expected to issue its next earnings report on Thursday, November 1st.

On average, analysts expect that Appian will report full year sales of $214.45 million for the current financial year, with estimates ranging from $214.16 million to $214.64 million. For the next financial year, analysts expect that the business will post sales of $247.59 million per share, with estimates ranging from $244.60 million to $251.66 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Appian.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. Appian had a negative net margin of 16.28% and a negative return on equity of 81.10%. The company had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $50.31 million. During the same period in the prior year, the business earned ($0.08) EPS. The firm’s quarterly revenue was up 38.6% on a year-over-year basis.

Several research analysts have issued reports on APPN shares. SunTrust Banks cut shares of Appian from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. They noted that the move was a valuation call. Canaccord Genuity raised their price target on shares of Appian from $28.00 to $30.00 and gave the company a “hold” rating in a report on Friday, August 3rd. Barclays restated a “sell” rating and issued a $28.00 price target (up from $27.00) on shares of Appian in a report on Sunday, August 5th. Morgan Stanley raised their price target on shares of Appian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Friday, August 3rd. Finally, BidaskClub upgraded shares of Appian from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.29.

In related news, insider Robert Charles Kramer sold 3,500 shares of Appian stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $33.49, for a total value of $117,215.00. Following the completion of the sale, the insider now directly owns 7,500 shares in the company, valued at approximately $251,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel bought 211,430 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was bought at an average price of $30.39 per share, with a total value of $6,425,357.70. The disclosure for this purchase can be found here. Insiders sold a total of 288,500 shares of company stock worth $9,893,115 over the last 90 days. Company insiders own 64.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its position in Appian by 66.2% during the 1st quarter. Northern Trust Corp now owns 38,595 shares of the company’s stock worth $972,000 after buying an additional 15,371 shares during the last quarter. Deutsche Bank AG raised its position in Appian by 421.7% during the 4th quarter. Deutsche Bank AG now owns 7,945 shares of the company’s stock worth $250,000 after buying an additional 6,422 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Appian during the 1st quarter worth approximately $4,637,000. Nepsis Inc. raised its position in Appian by 29.6% during the 2nd quarter. Nepsis Inc. now owns 184,101 shares of the company’s stock worth $6,657,000 after buying an additional 41,999 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in Appian during the 1st quarter worth approximately $719,000. Institutional investors own 16.75% of the company’s stock.

Appian stock traded up $0.41 during midday trading on Friday, hitting $35.60. 2,962 shares of the company’s stock were exchanged, compared to its average volume of 495,778. Appian has a 12 month low of $19.62 and a 12 month high of $43.61. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -58.44 and a beta of 0.44.

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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