What is KeyCorp’s Forecast for Appian FY2024 Earnings?

Appian Co. (NASDAQ:APPN) – Investment analysts at KeyCorp issued their FY2024 earnings estimates for shares of Appian in a research note issued on Monday, January 13th. KeyCorp analyst D. Au forecasts that the company will earn ($0.90) per share for the year. KeyCorp currently 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.

A number of other equities research analysts have also recently weighed in on APPN. Scotiabank began coverage on Appian in a research note on Monday, January 6th. They set a “sector perform” rating and a $37.00 price objective for the company. Barclays increased their price target 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 issued a $33.00 price objective on shares of Appian in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.17.

Appian Stock Up 3.2 %

Appian stock opened at $33.45 on Thursday. Appian has a twelve month low of $26.28 and a twelve month high of $43.33. The business has a fifty day moving average of $36.75 and a two-hundred day moving average of $34.04. The firm has a market cap of $2.86 billion, a P/E ratio of -27.42 and a beta of 1.61.

Institutional Trading of Appian

Several large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after purchasing an additional 53,172 shares during the period. Abdiel Capital Advisors LP increased its stake in shares of Appian by 72.6% in the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after acquiring an additional 4,278,969 shares during the period. BNP Paribas Financial Markets lifted its position in Appian by 282.8% during the third quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock valued at $4,584,000 after purchasing an additional 99,198 shares during the period. Empyrean Capital Partners LP purchased a new stake in Appian in the second quarter valued at $7,715,000. Finally, 272 Capital LP acquired a new stake in Appian during the 2nd quarter worth about $2,179,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Insider Activity

In related news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total value of $27,146.00. Following the transaction, the director now directly owns 7,966 shares of the company’s stock, valued at $308,921.48. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 44.00% of the company’s stock.

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.