KeyCorp restated their buy rating on shares of Apptio Inc. (NASDAQ:APTI) in a research note issued to investors on Friday, October 6th. They currently have a $22.00 target price on the technology company’s stock.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Apptio from a sell rating to a hold rating in a report on Wednesday, July 5th. Royal Bank Of Canada restated an outperform rating and set a $21.00 price objective (up from $19.00) on shares of Apptio in a report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. initiated coverage on Apptio in a research report on Thursday, July 27th. They set an outperform rating and a $25.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Apptio currently has a consensus rating of Buy and an average price target of $22.29.
Apptio (APTI) opened at 18.83 on Friday. The firm’s market cap is $752.35 million. Apptio has a 52 week low of $10.77 and a 52 week high of $21.19. The firm’s 50-day moving average price is $18.10 and its 200 day moving average price is $18.10.
Apptio (NASDAQ:APTI) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04. Apptio had a negative return on equity of 41.76% and a negative net margin of 17.36%. The firm had revenue of $45.23 million for the quarter, compared to the consensus estimate of $43.72 million. Apptio’s revenue was up 16.6% on a year-over-year basis. Equities analysts forecast that Apptio will post ($0.37) earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC acquired a new stake in Apptio in the 4th quarter worth about $292,000. Wells Fargo & Company MN boosted its holdings in Apptio by 322.6% in the 1st quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock worth $129,000 after buying an additional 8,400 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Apptio by 109.4% in the 1st quarter. Bank of New York Mellon Corp now owns 27,302 shares of the technology company’s stock worth $320,000 after buying an additional 14,261 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Apptio by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 63,283 shares of the technology company’s stock worth $742,000 after purchasing an additional 6,144 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Apptio by 584.3% during the 1st quarter. JPMorgan Chase & Co. now owns 59,661 shares of the technology company’s stock worth $700,000 after purchasing an additional 50,943 shares during the last quarter. Hedge funds and other institutional investors own 45.25% of the company’s stock.
Apptio, Inc is a provider of technology business management (TBM) solutions. The Company’s cloud-based platform and software as a service (SaaS) applications enable information technology (IT) leaders to analyze, optimize and plan technology investments, and benchmark the financial and operational performance against peers.
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