Apptio Inc. (NASDAQ:APTI)‘s stock had its “buy” rating reaffirmed by investment analysts at KeyCorp in a note issued to investors on Friday. They currently have a $22.00 target price on the technology company’s stock. KeyCorp’s price objective points to a potential upside of 16.09% from the company’s previous close.

Several other brokerages also recently weighed in on APTI. Zacks Investment Research raised Apptio from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Oppenheimer Holdings, Inc. initiated coverage on Apptio in a report on Thursday, July 27th. They set an “outperform” rating and a $25.00 price target for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 price target (up from $19.00) on shares of Apptio in a report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.90.

Shares of Apptio (NASDAQ:APTI) opened at 18.96 on Friday. Apptio has a 52 week low of $12.80 and a 52 week high of $21.19. The firm’s 50-day moving average is $17.93 and its 200 day moving average is $17.93. The firm’s market capitalization is $757.55 million.

Apptio (NASDAQ:APTI) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The business had revenue of $45.23 million for the quarter, compared to analyst estimates of $43.72 million. Apptio had a negative net margin of 17.36% and a negative return on equity of 41.76%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities analysts forecast that Apptio will post ($0.37) earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its holdings in Apptio by 124.3% in the second quarter. California State Teachers Retirement System now owns 31,400 shares of the technology company’s stock valued at $545,000 after acquiring an additional 17,400 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Apptio by 321.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,254 shares of the technology company’s stock worth $265,000 after buying an additional 11,633 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Apptio during the 2nd quarter worth $207,000. State Street Corp raised its stake in shares of Apptio by 145.6% during the 2nd quarter. State Street Corp now owns 240,619 shares of the technology company’s stock worth $4,176,000 after buying an additional 142,628 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Apptio during the 2nd quarter worth $12,320,000. 45.25% of the stock is owned by institutional investors.

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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