Apptio Inc (APTI) Receives Average Recommendation of “Buy” from Analysts
Shares of Apptio Inc (NASDAQ:APTI) have earned an average rating of “Buy” from the eight research firms that are presently covering the stock. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $23.00.
A number of brokerages have commented on APTI. Zacks Investment Research lowered Apptio from a “hold” rating to a “sell” rating in a report on Monday, May 8th. Barclays PLC decreased their price objective on Apptio to $22.00 in a report on Friday, February 10th. JPMorgan Chase & Co. raised Apptio from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $16.00 to $18.00 in a report on Wednesday, April 26th. Finally, Royal Bank of Canada raised Apptio from a “sector perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Thursday, February 2nd.
COPYRIGHT VIOLATION WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.americanbankingnews.com/2017/05/19/apptio-inc-apti-receives-average-recommendation-of-buy-from-analysts.html.
In other news, CRO Lawrence Blasko sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $13.51, for a total value of $67,550.00. Following the completion of the transaction, the executive now directly owns 5,000 shares of the company’s stock, valued at $67,550. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Greylock Xii Gp Llc sold 3,009,883 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $13.00, for a total value of $39,128,479.00. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC acquired a new position in Apptio during the third quarter valued at about $2,169,000. Monashee Investment Management LLC acquired a new position in Apptio during the third quarter valued at about $1,302,000. BlackRock Advisors LLC acquired a new position in Apptio during the third quarter valued at about $1,288,000. Spark Investment Management LLC acquired a new position in Apptio during the third quarter valued at about $221,000. Finally, Citadel Advisors LLC acquired a new position in Apptio during the third quarter valued at about $1,443,000.
Apptio (NASDAQ:APTI) traded down 0.79% on Friday, hitting $15.13. The company had a trading volume of 640,969 shares. Apptio has a one year low of $10.77 and a one year high of $24.60. The company’s market capitalization is $584.82 million. The stock’s 50-day moving average price is $12.71 and its 200 day moving average price is $15.38.
Apptio (NASDAQ:APTI) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $43.90 million for the quarter, compared to the consensus estimate of $42.46 million. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.31) earnings per share. On average, analysts expect that Apptio will post ($0.41) EPS for the current fiscal year.
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.
Receive News & Ratings for Apptio Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apptio Inc and related companies with MarketBeat.com's FREE daily email newsletter.