Equities research analysts predict that Apptio (NASDAQ:APTI) will post $55.54 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Apptio’s earnings, with the lowest sales estimate coming in at $55.50 million and the highest estimate coming in at $55.68 million. Apptio reported sales of $45.23 million in the same quarter last year, which indicates a positive year over year growth rate of 22.8%. The company is scheduled to issue its next quarterly earnings results on Wednesday, August 1st.
On average, analysts expect that Apptio will report full-year sales of $227.64 million for the current year, with estimates ranging from $227.50 million to $227.99 million. For the next financial year, analysts forecast that the business will report sales of $267.43 million per share, with estimates ranging from $262.05 million to $275.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Apptio.
Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, April 30th. The technology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.07). The business had revenue of $54.10 million during the quarter, compared to analyst estimates of $51.64 million. Apptio had a negative return on equity of 25.40% and a negative net margin of 13.68%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) EPS.
A number of analysts have recently weighed in on APTI shares. BidaskClub lowered shares of Apptio from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Nomura began coverage on shares of Apptio in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $33.00 price objective on the stock. Royal Bank of Canada restated a “buy” rating and set a $29.00 price target on shares of Apptio in a research report on Friday, January 26th. Oppenheimer restated a “buy” rating and set a $31.00 price target on shares of Apptio in a research report on Tuesday, January 30th. Finally, Barclays raised their price target on shares of Apptio from $22.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Apptio has a consensus rating of “Buy” and an average price target of $31.30.
In related news, CFO Kurt Shintaffer sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $26.10, for a total transaction of $1,305,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sachin Gupta sold 80,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $28.63, for a total transaction of $2,290,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 504,459 shares of company stock worth $15,009,429. 24.16% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in APTI. Schwab Charles Investment Management Inc. grew its position in shares of Apptio by 32.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 39,600 shares of the technology company’s stock valued at $732,000 after purchasing an additional 9,600 shares during the period. Renaissance Technologies LLC grew its position in shares of Apptio by 185.0% in the fourth quarter. Renaissance Technologies LLC now owns 315,788 shares of the technology company’s stock valued at $7,427,000 after purchasing an additional 204,988 shares during the period. Pier Capital LLC acquired a new stake in shares of Apptio in the fourth quarter valued at about $5,942,000. Alkeon Capital Management LLC acquired a new stake in shares of Apptio in the fourth quarter valued at about $9,396,000. Finally, Deutsche Bank AG grew its position in shares of Apptio by 41.4% in the fourth quarter. Deutsche Bank AG now owns 159,128 shares of the technology company’s stock valued at $3,742,000 after purchasing an additional 46,555 shares during the period. Institutional investors own 55.10% of the company’s stock.
Shares of NASDAQ:APTI traded up $0.40 during midday trading on Friday, reaching $31.73. The company’s stock had a trading volume of 643,100 shares, compared to its average volume of 602,817. The firm has a market capitalization of $1.36 billion, a P/E ratio of -49.58 and a beta of 0.02. Apptio has a twelve month low of $15.05 and a twelve month high of $33.28. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.18 and a quick ratio of 2.18.
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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