Apptio (NASDAQ:APTI) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Other analysts have also issued research reports about the stock. Bank of America raised their price target on shares of Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Oppenheimer reissued a “buy” rating and issued a $27.00 price target on shares of Apptio in a report on Thursday, November 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price target (up previously from $23.00) on shares of Apptio in a report on Tuesday, October 31st. Barclays raised their price objective on shares of Apptio from $19.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Finally, JMP Securities initiated coverage on shares of Apptio in a research note on Monday, November 27th. They issued an “outperform” rating and a $28.00 price objective on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Apptio presently has a consensus rating of “Buy” and an average target price of $24.78.

Shares of Apptio (NASDAQ:APTI) traded down $0.15 during trading on Friday, hitting $24.20. 418,631 shares of the company were exchanged, compared to its average volume of 404,462. The firm has a market capitalization of $971.38 and a price-to-earnings ratio of -35.59. Apptio has a fifty-two week low of $10.77 and a fifty-two week high of $25.49.

Apptio (NASDAQ:APTI) last issued its quarterly earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.08. The business had revenue of $47.00 million during 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 36.83%. Apptio’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.45) earnings per share. research analysts forecast that Apptio will post -0.69 EPS for the current year.

In other news, CRO Lawrence Blasko sold 45,000 shares of Apptio stock in a transaction on Monday, November 6th. The shares were sold at an average price of $21.84, for a total transaction of $982,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Pick sold 171,000 shares of Apptio stock in a transaction on Monday, November 6th. The stock was sold at an average price of $21.83, for a total transaction of $3,732,930.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 727,185 shares of company stock worth $16,070,951. Insiders own 43.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in APTI. SQN Investors LP bought a new position in shares of Apptio during the second quarter worth $23,378,000. FMR LLC lifted its position in 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 acquiring an additional 1,085,566 shares in the last quarter. GMT Capital Corp bought a new stake in Apptio in the 2nd quarter valued at $17,495,000. Janus Henderson Group PLC bought a new stake in Apptio in the 2nd quarter valued at $12,320,000. Finally, Laurion Capital Management LP bought a new stake in Apptio in the 2nd quarter valued at $9,510,000. 45.56% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Apptio (APTI) Upgraded at BidaskClub” was first published by American Banking News and is owned by of American Banking News. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/01/06/apptio-apti-upgraded-at-bidaskclub.html.

About Apptio

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.

Analyst Recommendations for Apptio (NASDAQ:APTI)

Receive News & Ratings for Apptio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apptio and related companies with MarketBeat.com's FREE daily email newsletter.