Apptio (APTI) Given New $28.00 Price Target at Barclays

Apptio (NASDAQ:APTI) had its price objective increased by stock analysts at Barclays from $22.00 to $28.00 in a research note issued to investors on Tuesday. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays’ price target would suggest a potential upside of 5.78% from the company’s current price.

Several other equities analysts have also commented on the company. Oppenheimer reissued a “buy” rating and set a $25.00 price target on shares of Apptio in a research report on Tuesday, October 24th. Zacks Investment Research lowered Apptio from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. JMP Securities initiated coverage on Apptio in a research report on Monday, November 27th. They set an “outperform” rating and a $28.00 price target on the stock. 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 report on Tuesday, October 31st. Finally, Bank of America boosted their price target on Apptio from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Apptio has an average rating of “Buy” and an average target price of $28.20.

Apptio (NASDAQ:APTI) traded up $0.10 during midday trading on Tuesday, hitting $26.47. The stock had a trading volume of 1,267,257 shares, compared to its average volume of 464,850. The firm has a market cap of $1,050.00 and a price-to-earnings ratio of -38.37. Apptio has a fifty-two week low of $10.77 and a fifty-two week high of $26.99.

Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, February 5th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $52.40 million for the quarter, compared to analyst estimates of $49.93 million. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.11) EPS. research analysts forecast that Apptio will post -0.69 earnings per share for the current year.

In other Apptio news, insider Sachin Gupta sold 80,000 shares of Apptio 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kurt Shintaffer sold 40,000 shares of Apptio stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $22.05, for a total value of $882,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 511,185 shares of company stock worth $11,355,221 over the last 90 days. 43.20% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Thompson Davis & CO. Inc. increased its holdings in Apptio by 3,900.0% during the 4th quarter. Thompson Davis & CO. Inc. now owns 5,000 shares of the technology company’s stock worth $118,000 after purchasing an additional 4,875 shares during the last quarter. Engineers Gate Manager LP increased its holdings in Apptio by 31.8% during the 4th quarter. Engineers Gate Manager LP now owns 39,150 shares of the technology company’s stock worth $921,000 after purchasing an additional 9,436 shares during the last quarter. Strs Ohio increased its holdings in Apptio by 1,431.8% during the 4th quarter. Strs Ohio now owns 33,700 shares of the technology company’s stock worth $792,000 after purchasing an additional 31,500 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Apptio during the 4th quarter worth approximately $323,000. Finally, Rubric Capital Management LP increased its holdings in Apptio by 11.9% during the 3rd quarter. Rubric Capital Management LP now owns 668,628 shares of the technology company’s stock worth $12,350,000 after purchasing an additional 71,318 shares during the last quarter. Institutional investors own 44.93% of the company’s stock.

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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)

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