Low code software development platform provider Appian (Nasdaq: APPN) will be reporting results tomorrow after the bell. Here's what to expect.
Last quarter Appian reported revenues of $110 million, up 32.6% year on year, beating analyst revenue expectations by 5.85%. It was a decent quarter for the company, with a solid beat of analyst estimates but a decline in gross margin.
Is Appian buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Appian's revenue to grow 25.6% year on year to $116.1 million, improving on the 19.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.23 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 7.14%.
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. ServiceNow delivered top-line growth of 21% year on year, missing analyst estimates by 1.11% and 8x8 reported revenues up 23.6% year on year, exceeding estimates by 0.45%. ServiceNow traded up 11.00% on the results, 8x8 was flat on the results. Read our full analysis of ServiceNow's results here and 8x8's results here.
There has been positive sentiment among investors in the software segment, with the stocks up on average 2.98% over the last month. Appian is up 19.2% during the same time, and is heading into the earnings with analyst price target of $51.7, compared to share price of $50.
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The author has no position in any of the stocks mentioned.