$49.73 Million in Sales Expected for Apptio Inc. (APTI) This Quarter
Equities analysts expect Apptio Inc. (NASDAQ:APTI) to post $49.73 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Apptio’s earnings, with the highest sales estimate coming in at $49.80 million and the lowest estimate coming in at $49.58 million. Apptio posted sales of $44.32 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.2%. The firm is scheduled to issue its next earnings report on Thursday, February 8th.
On average, analysts expect that Apptio will report full year sales of $49.73 million for the current year, with estimates ranging from $185.73 million to $186.00 million. For the next financial year, analysts anticipate that the company will post sales of $215.15 million per share, with estimates ranging from $211.40 million to $223.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Apptio.
Apptio (NASDAQ:APTI) last announced its earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.08. Apptio had a negative net margin of 14.77% and a negative return on equity of 36.83%. The firm had revenue of $47.00 million for the quarter, compared to the consensus estimate of $44.86 million. During the same period in the prior year, the firm earned ($0.45) EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis.
Several equities research analysts recently weighed in on the stock. KeyCorp reaffirmed a “buy” rating and set a $25.00 target price on shares of Apptio in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Apptio from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday, November 2nd. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $27.00 target price on shares of Apptio in a research note on Thursday, November 9th. Bank of America Corporation upped their target price on shares of Apptio from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Finally, Barclays PLC upped their target price on shares of Apptio from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Apptio currently has a consensus rating of “Buy” and an average target price of $24.38.
Shares of Apptio (NASDAQ APTI) opened at $22.41 on Thursday. Apptio has a 52 week low of $10.77 and a 52 week high of $24.50.
In other Apptio news, insider John C. Morrow sold 28,337 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $22.55, for a total transaction of $638,999.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sachin Gupta sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $21.59, for a total transaction of $1,727,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 384,337 shares of company stock valued at $8,405,529 in the last quarter. 43.20% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Apptio by 113.5% in the 2nd quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock valued at $35,432,000 after buying an additional 1,085,566 shares in the last quarter. GMT Capital Corp boosted its holdings in shares of Apptio by 59.7% in the 3rd quarter. GMT Capital Corp now owns 1,617,314 shares of the technology company’s stock valued at $29,872,000 after buying an additional 604,300 shares in the last quarter. SQN Investors LP acquired a new position in shares of Apptio in the 2nd quarter valued at $23,378,000. Whetstone Capital Advisors LLC boosted its holdings in shares of Apptio by 45.6% in the 2nd quarter. Whetstone Capital Advisors LLC now owns 807,299 shares of the technology company’s stock valued at $14,330,000 after buying an additional 252,653 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Apptio in the 2nd quarter valued at $12,320,000. Institutional investors and hedge funds own 46.05% of the company’s stock.
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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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