Wall Street brokerages predict that Apptio (NASDAQ:APTI) will report $51.62 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Apptio’s earnings, with the highest sales estimate coming in at $52.00 million and the lowest estimate coming in at $51.43 million. Apptio reported sales of $43.93 million during the same quarter last year, which indicates a positive year-over-year growth rate of 17.5%. The company is scheduled to report its next earnings results after the market closes on Monday, April 30th.
On average, analysts expect that Apptio will report full-year sales of $51.62 million for the current fiscal year, with estimates ranging from $221.08 million to $224.80 million. For the next financial year, analysts expect that the company will report sales of $260.72 million per share, with estimates ranging from $249.68 million to $267.90 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Apptio.
Apptio (NASDAQ:APTI) last announced its quarterly earnings results on Monday, February 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. Apptio had a negative net margin of 13.59% and a negative return on equity of 33.48%. The firm had revenue of $52.40 million for the quarter, compared to the consensus estimate of $49.93 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year.
A number of analysts recently issued reports on the stock. KeyCorp increased their price target on shares of Apptio from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, March 19th. Oppenheimer increased their price target on shares of Apptio from $31.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, March 15th. BidaskClub raised shares of Apptio from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 6th. Barclays increased their price target on shares of Apptio from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, Bank of America increased their price target on shares of Apptio from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $30.00.
NASDAQ APTI traded up $0.51 during mid-day trading on Monday, reaching $29.29. 111,599 shares of the stock were exchanged, compared to its average volume of 570,681. Apptio has a 1 year low of $11.24 and a 1 year high of $30.83. The company has a market capitalization of $1,211.97, a PE ratio of -46.00 and a beta of 0.04.
In other Apptio news, insider Sachin Gupta sold 80,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $25.76, for a total transaction of $2,060,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John C. Morrow sold 13,125 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $24.66, for a total transaction of $323,662.50. The disclosure for this sale can be found here. Insiders have sold 572,409 shares of company stock valued at $15,561,829 over the last 90 days. 43.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. raised its position in shares of Apptio by 32.0% in the fourth quarter. American International Group Inc. now owns 15,713 shares of the technology company’s stock valued at $370,000 after buying an additional 3,811 shares during the last quarter. California State Teachers Retirement System raised its position in shares of 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 buying an additional 3,852 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Apptio by 6.7% in the fourth quarter. Bank of New York Mellon Corp now owns 67,161 shares of the technology company’s stock valued at $1,580,000 after buying an additional 4,192 shares during the last quarter. Thompson Davis & CO. Inc. raised its position in shares of Apptio by 3,900.0% in the fourth quarter. Thompson Davis & CO. Inc. now owns 5,000 shares of the technology company’s stock valued at $118,000 after buying an additional 4,875 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Apptio by 15.9% in the fourth quarter. Teachers Advisors LLC now owns 39,888 shares of the technology company’s stock valued at $938,000 after buying an additional 5,462 shares during the last quarter. Institutional investors and hedge funds own 54.27% of the company’s stock.
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Apptio Company Profile
Apptio, Inc provides cloud-based technology business management (TBM) solutions to enterprises. Its cloud-based platform and SaaS applications enable IT leaders to analyze, optimize, and plan technology investments, as well as to benchmark financial and operational performance against peers. The company's TBM solutions consist of adaptive data management, which aggregates, cleanses, and correlates large amounts of customer data from various sources; and standard IT operating model and taxonomy that offers a standard model for how IT costs are captured, categorized, and allocated to IT and business services.
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