Appian (NASDAQ:APPN – Get Free Report) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided EPS guidance of -0.380–0.350 for the period, compared to the consensus EPS estimate of -0.550. The company issued revenue guidance of $613.0 million-$615.0 million, compared to the consensus revenue estimate of $611.8 million.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on APPN shares. Barclays increased their price objective on Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a report on Friday, November 8th. The Goldman Sachs Group reduced their target price on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $33.00 price target on shares of Appian in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Appian presently has an average rating of “Hold” and a consensus target price of $40.20.
Get Our Latest Stock Analysis on Appian
Appian Trading Up 2.0 %
Insider Buying and Selling
In related news, major shareholder Abdiel Capital Advisors, Lp acquired 23,053 shares of Appian stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $30.22 per share, for a total transaction of $696,661.66. Following the completion of the transaction, the insider now directly owns 10,036,046 shares of the company’s stock, valued at $303,289,310.12. The trade was a 0.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 121,107 shares of company stock worth $3,871,494 in the last three months. Corporate insiders own 44.00% of the company’s stock.
About Appian
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.
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