Appian (APPN) closed the most recent trading day at $53.24, moving +1.31% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.33%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 0.67%.
Prior to today's trading, shares of the business process management software provider had gained 31.01% over the past month. This has outpaced the Computer and Technology sector's gain of 5.51% and the S&P 500's gain of 3.24% in that time.
APPN will be looking to display strength as it nears its next earnings release, which is expected to be February 20, 2020. The company is expected to report EPS of -$0.14, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $69.69 million, up 15.73% from the year-ago period.
Investors should also note any recent changes to analyst estimates for APPN. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. APPN is currently a Zacks Rank #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 109, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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