BidaskClub Upgrades Apptio (NASDAQ:APTI) to “Strong-Buy”

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BidaskClub upgraded shares of Apptio (NASDAQ:APTI) from a buy rating to a strong-buy rating in a report published on Thursday, May 31st.

APTI has been the topic of a number of other reports. KeyCorp upped their price target on Apptio from $30.00 to $35.00 and gave the stock an overweight rating in a research note on Monday, March 19th. Zacks Investment Research downgraded Apptio from a hold rating to a sell rating in a research note on Thursday, May 3rd. JPMorgan Chase & Co. downgraded Apptio from an overweight rating to a neutral rating and lowered their price objective for the stock from $27.00 to $18.00 in a research note on Friday, April 27th. They noted that the move was a valuation call. Oppenheimer increased their price objective on Apptio from $31.00 to $38.00 and gave the stock an outperform rating in a research note on Thursday, March 15th. Finally, Jefferies Financial Group reaffirmed a buy rating and set a $33.00 price target on shares of Apptio in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $31.30.

Apptio traded up $0.36, reaching $35.67, during trading on Thursday, MarketBeat.com reports. 389,600 shares of the stock were exchanged, compared to its average volume of 582,983. Apptio has a twelve month low of $16.07 and a twelve month high of $36.03. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.18 and a current ratio of 2.18. The company has a market cap of $1.48 billion, a P/E ratio of -55.73 and a beta of 0.13.

Apptio (NASDAQ:APTI) last posted its quarterly earnings results on Monday, April 30th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Apptio had a negative return on equity of 25.40% and a negative net margin of 13.68%. The firm had revenue of $54.10 million for the quarter, compared to analyst estimates of $51.64 million. During the same period last year, the company posted ($0.08) earnings per share. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. equities analysts predict that Apptio will post -0.53 earnings per share for the current year.

In other Apptio news, insider Sachin Gupta sold 30,600 shares of the stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $34.69, for a total transaction of $1,061,514.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Christopher Pick sold 17,966 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $32.02, for a total value of $575,271.32. The disclosure for this sale can be found here. Insiders have sold 298,065 shares of company stock valued at $9,509,986 over the last ninety days. 24.16% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Alkeon Capital Management LLC boosted its holdings in shares of Apptio by 106.6% in the first quarter. Alkeon Capital Management LLC now owns 825,531 shares of the technology company’s stock worth $23,395,000 after acquiring an additional 426,040 shares during the period. Millennium Management LLC boosted its holdings in shares of Apptio by 26.1% in the first quarter. Millennium Management LLC now owns 900,155 shares of the technology company’s stock worth $25,510,000 after acquiring an additional 186,464 shares during the period. Vista Equity Partners Management LLC boosted its holdings in shares of Apptio by 36.8% in the first quarter. Vista Equity Partners Management LLC now owns 960,659 shares of the technology company’s stock worth $27,225,000 after acquiring an additional 258,415 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Apptio in the first quarter worth $178,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Apptio in the first quarter worth $170,000. 63.14% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Apptio (NASDAQ:APTI)

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