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.

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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.

About Apptio

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.

Analyst Recommendations for Apptio (NASDAQ:APTI)

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