Apptio’s (NASDAQ:APTI) Buy Rating Reiterated at KeyCorp

Apptio (NASDAQ:APTI)‘s stock had its “buy” rating reissued by stock analysts at KeyCorp in a research report issued on Wednesday, January 10th. They presently have a $27.00 price target on the technology company’s stock. KeyCorp’s price target would suggest a potential upside of 1.89% from the stock’s previous close.

Several other brokerages also recently commented on APTI. Oppenheimer reiterated a “buy” rating and set a $25.00 target price on shares of Apptio in a report on Tuesday, October 24th. Zacks Investment Research lowered Apptio from a “buy” rating to a “hold” rating in a research note 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 objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $24.00 price objective (up previously from $23.00) on shares of Apptio in a research report on Tuesday, October 31st. Finally, Bank of America boosted their price objective on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $27.11.

Shares of Apptio (NASDAQ APTI) opened at $26.50 on Wednesday. Apptio has a 52 week low of $10.77 and a 52 week high of $26.94. The company has a market capitalization of $1,046.86, a price-to-earnings ratio of -38.22 and a beta of 0.96.

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

In other Apptio news, insider Sachin Gupta sold 80,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $21.59, for a total value of $1,727,200.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John C. Morrow sold 60,455 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $22.65, for a total value of $1,369,305.75. The disclosure for this sale can be found here. Insiders sold a total of 511,185 shares of company stock worth $11,355,221 in the last three months. Company insiders own 43.20% of the company’s stock.

Several large investors have recently made changes to their positions in the business. FMR LLC lifted its position in shares of Apptio by 113.5% in the second quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock worth $35,432,000 after buying an additional 1,085,566 shares during the last quarter. GMT Capital Corp lifted its position in shares of Apptio by 59.7% in the third quarter. GMT Capital Corp now owns 1,617,314 shares of the technology company’s stock worth $29,872,000 after buying an additional 604,300 shares during the last quarter. SQN Investors LP acquired a new stake in shares of Apptio in the second quarter worth about $23,378,000. Whetstone Capital Advisors LLC lifted its position in shares of Apptio by 45.6% in the second quarter. Whetstone Capital Advisors LLC now owns 807,299 shares of the technology company’s stock worth $14,330,000 after buying an additional 252,653 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Apptio in the second quarter worth about $12,320,000. 44.93% of the stock is owned by institutional investors.

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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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