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Appian (APPN) closed at $35.70 in the latest trading session, marking a +1.19% move from the prior day. The stock lagged the S&P 500's daily gain of 9.28%. Elsewhere, the Dow gained 9.36%, while the tech-heavy Nasdaq added 9.34%.
Heading into today, shares of the business process management software provider had lost 38.47% over the past month, lagging the Computer and Technology sector's loss of 26.09% and the S&P 500's loss of 26.56% in that time.
Investors will be hoping for strength from APPN as it approaches its next earnings release. The company is expected to report EPS of -$0.19, down 18.75% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $70.96 million, up 19.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.57 per share and revenue of $297.31 million, which would represent changes of -9.62% and +12.4%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for APPN. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 42.76% lower. APPN is currently a Zacks Rank #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow APPN in the coming trading sessions, be sure to utilize Zacks.com.
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