Brokerages Expect Apptio Inc. (APTI) Will Post Quarterly Sales of $43.85 Million
Wall Street analysts forecast that Apptio Inc. (NASDAQ:APTI) will announce $43.85 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Apptio’s earnings, with the lowest sales estimate coming in at $43.70 million and the highest estimate coming in at $44.00 million. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, August 2nd.
On average, analysts expect that Apptio will report full-year sales of $43.85 million for the current financial year, with estimates ranging from $181.10 million to $181.20 million. For the next fiscal year, analysts forecast that the firm will post sales of $209.25 million per share, with estimates ranging from $202.70 million to $216.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Apptio.
Apptio (NASDAQ:APTI) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.04. The company had revenue of $43.90 million for the quarter, compared to analyst estimates of $42.46 million. Apptio’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.31) EPS.
A number of equities analysts have issued reports on APTI shares. J P Morgan Chase & Co upgraded Apptio from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $16.00 to $18.00 in a report on Wednesday, April 26th. Zacks Investment Research cut Apptio from a “hold” rating to a “sell” rating in a report on Monday, May 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Apptio presently has an average rating of “Buy” and a consensus price target of $23.00.
In other Apptio news, insider Christopher Pick sold 170,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $16.05, for a total transaction of $2,728,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Lawrence Blasko sold 5,000 shares of the business’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 transaction, the executive now directly owns 5,000 shares in the company, valued at approximately $67,550. The disclosure for this sale can be found here. Insiders have sold a total of 3,184,883 shares of company stock worth $41,924,529 in the last ninety days. Insiders own 43.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. 1st Global Advisors Inc. bought a new position in Apptio during the first quarter valued at $127,000. Wells Fargo & Company MN raised its position in Apptio by 322.6% in the first 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. Allen Holding Inc. NY acquired a new position in Apptio during the first quarter worth $148,000. Pier 88 Investment Partners LLC acquired a new position in Apptio during the first quarter worth $170,000. Finally, HighTower Advisors LLC raised its position in Apptio by 1.7% in the first quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock worth $179,000 after buying an additional 252 shares during the last quarter. 24.19% of the stock is currently owned by hedge funds and other institutional investors.
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Apptio (NASDAQ APTI) traded up 3.35% during mid-day trading on Friday, reaching $17.27. The company’s stock had a trading volume of 129,916 shares. The stock’s 50 day moving average is $16.44 and its 200 day moving average is $14.95. Apptio has a 12 month low of $10.77 and a 12 month high of $24.60. The company’s market cap is $667.54 million.
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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