Brokerages Expect Apptio Inc. (APTI) Will Post Quarterly Sales of $43.85 Million
Analysts expect that Apptio Inc. (NASDAQ:APTI) will report $43.85 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Apptio’s earnings, with the highest sales estimate coming in at $44.00 million and the lowest estimate coming in at $43.70 million. The company is scheduled to announce its next earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that Apptio will report full-year sales of $43.85 million for the current financial year, with estimates ranging from $181.10 million to $181.20 million. For the next year, analysts expect that the firm will post sales of $209.25 million per share, with estimates ranging from $202.70 million to $216.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Apptio.
Apptio (NASDAQ:APTI) last issued its earnings results on Thursday, May 4th. The technology company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The business had revenue of $43.90 million during the quarter, compared to analyst estimates of $42.46 million. Apptio’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.31) EPS.
APTI has been the topic of several recent analyst reports. Zacks Investment Research upgraded Apptio from a “sell” rating to a “hold” rating in a report on Friday, May 26th. J P Morgan Chase & Co upgraded Apptio from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $16.00 to $18.00 in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $23.00.
Shares of Apptio (APTI) traded up 3.35% during trading on Friday, hitting $17.27. The stock had a trading volume of 129,916 shares. Apptio has a 1-year low of $10.77 and a 1-year high of $24.60. The firm has a 50 day moving average of $16.44 and a 200 day moving average of $14.95. The company’s market capitalization is $667.54 million.
In related news, insider Christopher Pick sold 170,000 shares of Apptio stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $16.05, for a total value of $2,728,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Lawrence Blasko sold 5,000 shares of Apptio stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $13.51, for a total value of $67,550.00. Following the completion of the sale, the executive now directly owns 5,000 shares in the company, valued at approximately $67,550. The disclosure for this sale can be found here. In the last three months, insiders sold 3,184,883 shares of company stock worth $41,924,529. 43.20% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in APTI. HighTower Advisors LLC raised its stake in shares of Apptio by 1.7% in the first quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock worth $179,000 after buying an additional 252 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Apptio by 2.9% in the first quarter. Geode Capital Management LLC now owns 81,459 shares of the technology company’s stock worth $955,000 after buying an additional 2,277 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Apptio by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 99,800 shares of the technology company’s stock worth $1,849,000 after buying an additional 3,000 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Apptio by 1.0% in the first quarter. Principal Financial Group Inc. now owns 339,193 shares of the technology company’s stock worth $3,979,000 after buying an additional 3,459 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Apptio by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 63,283 shares of the technology company’s stock worth $742,000 after buying an additional 6,144 shares in the last quarter. 24.19% of the stock is currently owned by institutional investors and hedge funds.
Apptio Company Profile
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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