KeyCorp Comments on Appian’s FY2024 Earnings (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) – Research analysts at KeyCorp issued their FY2024 earnings estimates for shares of Appian in a research report issued on Monday, January 13th. KeyCorp analyst D. Au anticipates that the company will earn ($0.90) per share for the year. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Appian’s current full-year earnings is ($0.89) per share. KeyCorp also issued estimates for Appian’s Q4 2024 earnings at ($0.14) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at ($0.34) EPS and FY2026 earnings at $0.11 EPS.

Several other research firms also recently issued reports on APPN. Scotiabank started coverage on Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target for the company. Barclays boosted their target price 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. Finally, DA Davidson reaffirmed a “neutral” rating and set a $33.00 price target on shares of Appian in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.17.

Appian Trading Down 2.9 %

Appian stock opened at $32.80 on Thursday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -26.89 and a beta of 1.61. Appian has a 12 month low of $26.28 and a 12 month high of $43.33. The stock’s 50 day moving average is $36.30 and its 200-day moving average is $34.05.

Insider Activity

In other news, Director William D. Mccarthy sold 700 shares of the business’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. The trade was a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APPN. Allspring Global Investments Holdings LLC acquired a new stake in shares of Appian in the 3rd quarter valued at $29,000. Canada Pension Plan Investment Board bought a new stake in shares of Appian during the 2nd quarter worth $96,000. Point72 Hong Kong Ltd acquired a new stake in Appian in the second quarter valued at about $121,000. Point72 Asia Singapore Pte. Ltd. grew its position in Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after acquiring an additional 1,088 shares during the last quarter. Finally, FMR LLC raised its stake in Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after acquiring an additional 3,953 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

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.