Apptio Inc. (APTI) Rating Increased to Buy at Zacks Investment Research
Apptio Inc. (NASDAQ:APTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $25.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 3.09% from the company’s previous close.
According to Zacks, “Apptio, Inc. is a provider of cloud-based technology business management software for managing business of information technology. It offers cloud application which includes Apptio Cost Transparency, Apptio IT Planning, Apptio IT Benchmarking, Apptio Business Insights and Apptio Bill of IT. The company also offers Data Studio, Model Studio and Report Studio under TBM Studio. Apptio, Inc. is based in Bellevue, United States. “
Several other analysts have also issued reports on APTI. KeyCorp reiterated a “buy” rating and set a $25.00 price target on shares of Apptio in a research report on Wednesday. Barclays PLC increased their price target on shares of Apptio from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $27.00 price target (up previously from $25.00) on shares of Apptio in a research report on Tuesday. Bank of America Corporation increased their price target on shares of Apptio from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $24.00 price target (up previously from $23.00) on shares of Apptio in a research report on Tuesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Apptio currently has an average rating of “Buy” and an average target price of $24.38.
Apptio (NASDAQ:APTI) last announced its earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.08. The firm had revenue of $47.00 million for the quarter, compared to analyst estimates of $44.86 million. Apptio had a negative net margin of 14.77% and a negative return on equity of 37.40%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.45) EPS.
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Several hedge funds and other institutional investors have recently bought and sold shares of APTI. 1st Global Advisors Inc. acquired a new stake in shares of Apptio during the 1st quarter worth approximately $127,000. Wells Fargo & Company MN lifted its stake in Apptio by 322.6% in the 1st quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock valued at $129,000 after purchasing an additional 8,400 shares during the last quarter. Allen Holding Inc. NY bought a new position in Apptio in the 1st quarter valued at approximately $148,000. Pier 88 Investment Partners LLC bought a new position in Apptio in the 1st quarter valued at approximately $170,000. Finally, Nationwide Fund Advisors lifted its stake in Apptio by 244.9% in the 2nd quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock valued at $177,000 after purchasing an additional 7,242 shares during the last quarter. Institutional investors and hedge funds own 45.27% of the company’s stock.
Apptio Company Profile
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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