Bank of America Corporation Boosts Apptio Inc. (APTI) Price Target to $25.00
Apptio Inc. (NASDAQ:APTI) had its price objective lifted by stock analysts at Bank of America Corporation from $20.00 to $25.00 in a report released on Tuesday. The brokerage currently has a “buy” rating on the technology company’s stock. Bank of America Corporation’s target price indicates a potential upside of 30.96% from the stock’s current price.
Several other analysts have also commented on the company. Zacks Investment Research upgraded Apptio from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Oppenheimer Holdings, Inc. started coverage on Apptio in a report on Thursday, July 27th. They set an “outperform” rating and a $25.00 price objective for the company. Royal Bank Of Canada increased their price objective on Apptio from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. KeyCorp reiterated a “buy” rating and set a $22.00 price objective on shares of Apptio in a report on Friday, October 6th. Finally, Barclays PLC increased their price objective on Apptio from $19.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Apptio currently has a consensus rating of “Buy” and a consensus target price of $23.25.
Apptio (NASDAQ:APTI) traded up 25.04% on Tuesday, hitting $23.87. The stock had a trading volume of 2,272,115 shares. The firm’s market cap is $953.73 million. The company has a 50-day moving average price of $18.25 and a 200 day moving average price of $18.25. Apptio has a 52-week low of $10.77 and a 52-week high of $24.25.
Apptio (NASDAQ:APTI) last issued its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.08. Apptio had a negative return on equity of 41.76% and a negative net margin of 17.36%. The firm had revenue of $47.00 million during the quarter, compared to analyst estimates of $44.86 million. During the same quarter in the prior year, the business posted ($0.45) EPS. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. Equities analysts forecast that Apptio will post ($0.37) earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://theolympiareport.com/2017/10/31/bank-of-america-corporation-boosts-apptio-inc-apti-price-target-to-25-00.html.
Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Apptio by 584.3% in the 1st quarter. JPMorgan Chase & Co. now owns 59,661 shares of the technology company’s stock worth $700,000 after acquiring an additional 50,943 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Apptio by 73.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,342 shares of the technology company’s stock worth $821,000 after acquiring an additional 20,040 shares during the last quarter. SQN Investors LP purchased a new position in Apptio in the 2nd quarter worth $23,378,000. Pier 88 Investment Partners LLC raised its stake in Apptio by 115.4% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 31,240 shares of the technology company’s stock worth $542,000 after acquiring an additional 16,740 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Apptio in the 1st quarter worth $1,191,000. Institutional investors own 45.27% of the company’s stock.
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.
Receive News & Ratings for Apptio Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apptio Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.