Yahoo Finance Appian (APPN) Q2 Earnings: What To Expect
Low code software development platform provider Appian (Nasdaq: APPN) will be announcing earnings results tomorrow before market open. Here's what investors should know.
Appian met analysts' revenue expectations last quarter, reporting revenues of $149.8 million, up 10.8% year on year. It was a weak quarter for the company, with a miss of analysts' billings estimates and a decline in its gross margin.
Is Appian a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Appian's revenue to grow 11.7% year on year to $142.7 million, slowing from the 16% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.31 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Appian has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 2.5% on average.
Looking at Appian's peers in the productivity software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. ServiceNow delivered year-on-year revenue growth of 22.2%, meeting analysts' expectations, and Pegasystems reported revenues up 17.7%, topping estimates by 8.1%. ServiceNow traded up 13.2% following the results while Pegasystems was also up 12.7%.
Read our full analysis of ServiceNow's results here and Pegasystems's results here.
There has been positive sentiment among investors in the productivity software segment, with share prices up 2.2% on average over the last month. Appian is up 16.6% during the same time and is heading into earnings with an average analyst price target of $39.9 (compared to the current share price of $36.31).
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