Zacks: Analysts Anticipate Apptio Inc. (APTI) Will Post Quarterly Sales of $49.73 Million

Wall Street analysts predict that Apptio Inc. (NASDAQ:APTI) will report sales of $49.73 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Apptio’s earnings, with estimates ranging from $49.58 million to $49.80 million. Apptio reported sales of $44.32 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The company is scheduled to issue its next earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Apptio will report full year sales of $49.73 million for the current fiscal year, with estimates ranging from $185.73 million to $186.00 million. For the next financial year, analysts expect that the company will post sales of $215.15 million per share, with estimates ranging from $211.40 million to $223.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Apptio.

Apptio (NASDAQ:APTI) last issued its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. The company had revenue of $47.00 million for the quarter, compared to analyst estimates of $44.86 million. Apptio had a negative net margin of 14.77% and a negative return on equity of 36.83%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) earnings per share.

APTI has been the topic of several research analyst reports. Oppenheimer reissued a “buy” rating and issued a $25.00 price objective on shares of Apptio in a research report on Tuesday, October 24th. JMP Securities initiated coverage on shares of Apptio in a research report on Monday, November 27th. They issued an “outperform” rating and a $28.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price objective (up from $23.00) on shares of Apptio in a research report on Tuesday, October 31st. Bank of America increased their price objective on shares of Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, KeyCorp reissued a “buy” rating and issued a $22.00 price objective on shares of Apptio in a research report on Friday, October 6th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $25.00.

In related news, insider Sachin Gupta sold 71,800 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $22.65, for a total transaction of $1,626,270.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John C. Morrow sold 60,455 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $22.65, for a total transaction of $1,369,305.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 727,185 shares of company stock worth $16,070,951. 43.20% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings 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 valued at $821,000 after buying an additional 20,040 shares during the period. SQN Investors LP bought a new position in Apptio in the 2nd quarter valued at about $23,378,000. State Street Corp increased its holdings in Apptio by 145.6% in the 2nd quarter. State Street Corp now owns 240,619 shares of the technology company’s stock valued at $4,176,000 after buying an additional 142,628 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Apptio by 163.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 30,000 shares of the technology company’s stock valued at $521,000 after buying an additional 18,600 shares during the period. Finally, Laurion Capital Management LP bought a new position in Apptio in the 2nd quarter valued at about $9,510,000. 45.56% of the stock is currently owned by hedge funds and other institutional investors.

Apptio (NASDAQ APTI) opened at $24.42 on Friday. The firm has a market cap of $986.29 and a PE ratio of -35.91. Apptio has a 1 year low of $10.77 and a 1 year high of $25.49.

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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.

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