Appian (APPN) Q3 Earnings: What To Expect

Low code software development platform provider Appian (Nasdaq: NASDAQ:)
will be reporting earnings tomorrow after market hours. Here’s what you need to know.

Last quarter Appian reported revenues of $127.7 million, up 16% year on year, beating analyst revenue expectations by 3.15%. It was a mixed quarter for the company, with a decent beat of analysts’ revenue estimates but a decline in its gross margin.

Is Appian buy or sell heading into the earnings? Find out by reading the original article on StockStory.

This quarter analysts are expecting Appian’s revenue to grow 14.8% year on year to $135.3 million, slowing down from the 27.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.25 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St’s expectations, beating revenue estimates every single time over the past two years on average by 4.22%.

Looking at Appian’s peers in the productivity software segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Pegasystems (NASDAQ:) delivered top-line growth of 23.6% year on year, beating analyst estimates by 12.8%, and ServiceNow (NYSE:) reported revenues up 25% year on year, exceeding estimates by 0.65%. Pegasystems traded up 1.2% on the results, and ServiceNow was up 5.9%.

Read the full analysis of Pegasystems’s and ServiceNow’s results on StockStory.

Tech stocks have been under pressure, and while some of the productivity software stocks have fared somewhat better, they have not been spared, with share price declining 4.45% over the last month. Appian is down 8.08% during the same time, and is heading into the earnings with analyst price target of $51, compared to share price of $38.9.

The author has no position in any of the stocks mentioned.