KeyCorp Reiterates Buy Rating for Apptio Inc. (APTI)
Apptio Inc. (NASDAQ:APTI)‘s stock had its “buy” rating reaffirmed by equities research analysts at KeyCorp in a report issued on Friday. They presently have a $22.00 target price on the technology company’s stock. KeyCorp’s price target would indicate a potential upside of 16.09% from the company’s current price.
A number of other brokerages have also recently weighed in on APTI. Zacks Investment Research upgraded shares of Apptio from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $21.00 target price (up from $19.00) on shares of Apptio in a research note on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Apptio in a research note on Thursday, July 27th. They set an “outperform” rating and a $25.00 target price for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Apptio presently has a consensus rating of “Buy” and a consensus price target of $22.90.
Shares of Apptio (NASDAQ APTI) opened at 18.96 on Friday. The firm’s market cap is $757.55 million. Apptio has a 12 month low of $12.80 and a 12 month high of $21.19. The company’s 50-day moving average is $17.93 and its 200-day moving average is $17.93.
Apptio (NASDAQ:APTI) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.04. Apptio had a negative net margin of 17.36% and a negative return on equity of 41.76%. The firm had revenue of $45.23 million for the quarter, compared to the consensus estimate of $43.72 million. Apptio’s revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts forecast that Apptio will post ($0.37) earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of APTI. SQN Investors LP bought a new position in shares of Apptio in the second quarter valued at $23,378,000. FMR LLC lifted its holdings in Apptio by 113.5% during the 2nd quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock valued at $35,432,000 after purchasing an additional 1,085,566 shares during the last quarter. GMT Capital Corp acquired a new stake in Apptio during the 2nd quarter valued at $17,495,000. Janus Henderson Group PLC acquired a new stake in Apptio during the 2nd quarter valued at $12,320,000. Finally, Rubric Capital Management LP acquired a new stake in Apptio during the 2nd quarter valued at $10,363,000. 45.25% of the stock is owned by institutional investors.
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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