$49.73 Million in Sales Expected for Apptio Inc. (APTI) This Quarter

Equities research analysts expect that Apptio Inc. (NASDAQ:APTI) will post $49.73 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Apptio’s earnings. The lowest sales estimate is $49.58 million and the highest is $49.80 million. Apptio reported sales of $44.32 million in the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Apptio will report full year sales of $49.73 million for the current financial year, with estimates ranging from $185.73 million to $186.00 million. For the next fiscal year, analysts expect that the business will report sales of $215.15 million per share, with estimates ranging from $211.40 million to $223.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Apptio.

Apptio (NASDAQ:APTI) last posted its quarterly earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.08. The business had revenue of $47.00 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted ($0.45) earnings per share.

APTI has been the subject of a number of recent research reports. Oppenheimer reissued a “buy” rating and set a $25.00 price target on shares of Apptio in a research note on Tuesday, October 24th. JMP Securities initiated coverage on shares of Apptio in a research note on Monday, November 27th. They set an “outperform” rating and a $28.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price target (up from $23.00) on shares of Apptio in a research note on Tuesday, October 31st. Bank of America boosted their price target 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, KeyCorp reissued a “buy” rating and set a $22.00 price target on shares of Apptio in a research note on Friday, October 6th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $25.00.

In other Apptio news, insider Christopher Pick sold 171,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $21.83, for a total value of $3,732,930.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sachin Gupta sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were 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 sold 727,185 shares of company stock valued at $16,070,951 in the last ninety days. Insiders own 43.20% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Worth Venture Partners LLC increased its stake in Apptio by 8.9% in the third quarter. Worth Venture Partners LLC now owns 40,849 shares of the technology company’s stock valued at $754,000 after purchasing an additional 3,350 shares in the last quarter. HighTower Advisors LLC increased its stake in Apptio by 22.9% in the second quarter. HighTower Advisors LLC now owns 18,752 shares of the technology company’s stock valued at $324,000 after purchasing an additional 3,500 shares in the last quarter. Monarch Partners Asset Management LLC increased its stake in Apptio by 15.1% in the third quarter. Monarch Partners Asset Management LLC now owns 27,100 shares of the technology company’s stock valued at $501,000 after purchasing an additional 3,550 shares in the last quarter. California State Teachers Retirement System increased its stake in Apptio by 12.3% in the third quarter. California State Teachers Retirement System now owns 35,252 shares of the technology company’s stock valued at $651,000 after purchasing an additional 3,852 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Apptio by 244.9% in the second 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 in the last quarter. 45.56% of the stock is owned by hedge funds and other institutional investors.

Shares of Apptio (APTI) opened at $24.42 on Friday. The firm has a market cap of $986.29 and a P/E ratio of -35.91. Apptio has a 12 month low of $10.77 and a 12 month high of $25.49.

TRADEMARK VIOLATION NOTICE: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/01/14/49-73-million-in-sales-expected-for-apptio-inc-apti-this-quarter-3.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.

Get a free copy of the Zacks research report on Apptio (APTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply