Investor Alert

New York Markets Open in:

Market Pulse Archives

May 2, 2019, 4:49 p.m. EDT

Appian stock plunges after cutting full-year forecast

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Appian Corp. Cl A (APPN)

or Cancel Already have a watchlist? Log In

By Jeremy C. Owens


Appian Corp. /zigman2/quotes/203658597/composite APPN -2.33% shares dropped more than 11% in after-hours trading Thursday after the software company reduced its annual forecast. Appian reported first quarter losses of $17.5 million, or 27 cents a share, on sales of $59.6 million, up from $51.7 million a year ago. After adjusting for stock-based compensation, the company claimed losses of 16 cents a share, worse than a loss of 12 cents a share a year ago. Analysts on average expected a loss of 16 cents a share on sales of $59.7 million, according to FactSet. While the first quarter met expectations, the forecast was an issue. Appian projected larger second-quarter losses than analysts expected, and reduced its full-year forecast for earnings and revenue. Appian now expects total sales of $255 million to $258 million, after previously stating $258.5 million to $262.5 million, and adjusted losses of 50 cents to 55 cents a share, after previously projecting losses of 42 cents to 46 cents. The company, which went public two years ago at $12 a share, closed Thursday at $36.12, but dove to about $32 in the extended session.

US : U.S.: Nasdaq
$ 79.99
-1.91 -2.33%
Volume: 501,231
Oct. 21, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$5.73 billion
Rev. per Employee

Get news alerts on Appian Corp. Cl A — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.