Apptio Inc. (APTI) Given “Buy” Rating at RBC Capital Markets

RBC Capital Markets reaffirmed their buy rating on shares of Apptio Inc. (NASDAQ:APTI) in a research note released on Friday. RBC Capital Markets currently has a $19.00 price objective on the stock.

Other analysts also recently issued research reports about the stock. Barclays PLC decreased their price objective on shares of Apptio to $22.00 in a research note on Friday. Jefferies Group LLC began coverage on shares of Apptio in a research note on Tuesday, October 18th. They issued a buy rating and a $29.00 price objective for the company. J P Morgan Chase & Co assumed coverage on shares of Apptio in a research note on Tuesday, October 18th. They issued a neutral rating and a $23.00 price objective for the company. Royal Bank Of Canada assumed coverage on shares of Apptio in a research note on Tuesday, October 18th. They set a sector perform rating and a $23.00 price target for the company. Finally, Bank of America Corporation assumed coverage on shares of Apptio in a research note on Tuesday, October 18th. They set a buy rating and a $26.00 price target for the company. Three 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 a consensus target price of $23.75.

Analyst Recommendations for Apptio (NASDAQ:APTI)

Shares of Apptio (NASDAQ:APTI) opened at 14.54 on Friday. The company’s 50-day moving average price is $16.82 and its 200-day moving average price is $18.50. Apptio has a one year low of $13.04 and a one year high of $24.60. The company’s market capitalization is $557.22 million.

Apptio (NASDAQ:APTI) last announced its quarterly earnings data on Thursday, February 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.11. The firm earned $44.30 million during the quarter, compared to the consensus estimate of $42.10 million. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.84) EPS. On average, equities research analysts predict that Apptio will post ($0.43) earnings per share for the current year.

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Institutional investors have recently modified their holdings of the stock. Greylock Xii GP LLC acquired a new position in shares of Apptio during the third quarter valued at about $106,285,000. FMR LLC raised its position in shares of Apptio by 9.8% in the fourth quarter. FMR LLC now owns 986,500 shares of the company’s stock valued at $18,280,000 after buying an additional 88,000 shares during the last quarter. Columbia Wanger Asset Management LLC raised its position in shares of Apptio by 10.0% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 394,916 shares of the company’s stock valued at $7,318,000 after buying an additional 35,954 shares during the last quarter. Hillman Co. acquired a new position in shares of Apptio during the third quarter valued at about $3,723,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Apptio during the third quarter valued at about $2,169,000.

About Apptio

Apptio, Inc (Apptio) is a United States-based provider of cloud-based technology business management (TBM) software for managing business of information technology (IT). The Company offers a software as service (SaaS) products. It offers cloud applications, including Apptio Cost Transparency, which offers features, such as manage cost and investment across user’s application portfolio; Apptio IT Planning, which helps IT finance, budget owners and chief information officers (CIOs) with annual budget, forecast and variance tracking; Apptio IT Benchmarking, which extends Apptio Cost Transparency with side-by-side benchmarks with features, such as peer costs calculated through consistent cost structure and comparing peer benchmarks; Apptio Business Insights, which correlates IT infrastructure and application data, and Apptio Bill of IT, which automates the creation and delivery of pro-forma invoices for IT services.

5 Day Chart for NASDAQ:APTI

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