KeyCorp Reiterates Buy Rating for Apptio Inc. (APTI)
Apptio Inc. (NASDAQ:APTI)‘s stock had its “buy” rating reaffirmed by KeyCorp in a research report issued to clients and investors on Wednesday. They presently have a $25.00 target price on the technology company’s stock. KeyCorp’s price target suggests a potential upside of 10.52% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Bank of America Corporation upped their price objective on shares of Apptio from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Apptio in a research report on Tuesday, October 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $21.00 target price on shares of Apptio in a research note on Tuesday, October 10th. Zacks Investment Research upgraded shares of Apptio from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, August 8th. Finally, Barclays PLC boosted their target price on shares of Apptio from $19.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $24.38.
Apptio (NASDAQ:APTI) last issued its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.08. Apptio had a negative net margin of 14.77% and a negative return on equity of 36.83%. The business had revenue of $47.00 million during the quarter, compared to the consensus estimate of $44.86 million. During the same period in the prior year, the firm posted ($0.45) EPS. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year.
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Several hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. purchased a new stake in shares of Apptio during the 3rd quarter valued at approximately $874,000. Monarch Partners Asset Management LLC lifted its stake in Apptio by 15.1% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 27,100 shares of the technology company’s stock worth $501,000 after purchasing an additional 3,550 shares in the last quarter. Nationwide Fund Advisors lifted its stake in Apptio by 346.8% in the 3rd quarter. Nationwide Fund Advisors now owns 45,566 shares of the technology company’s stock worth $842,000 after purchasing an additional 35,367 shares in the last quarter. California State Teachers Retirement System lifted its stake in Apptio by 124.3% in the 2nd quarter. California State Teachers Retirement System now owns 31,400 shares of the technology company’s stock worth $545,000 after purchasing an additional 17,400 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Apptio by 321.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,254 shares of the technology company’s stock worth $265,000 after purchasing an additional 11,633 shares in the last quarter. Institutional investors own 45.27% of the company’s stock.
Apptio Company Profile
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.
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