Apptio Inc. (APTI) Expected to Announce Quarterly Sales of $44.80 Million
Brokerages expect Apptio Inc. (NASDAQ:APTI) to announce sales of $44.80 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Apptio’s earnings, with the lowest sales estimate coming in at $44.69 million and the highest estimate coming in at $45.00 million. Apptio reported sales of $40.63 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The company is expected to issue its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Apptio will report full-year sales of $44.80 million for the current financial year, with estimates ranging from $181.64 million to $183.00 million. For the next financial year, analysts anticipate that the company will post sales of $209.97 million per share, with estimates ranging from $204.40 million to $216.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Apptio.
Apptio (NASDAQ:APTI) last issued its quarterly earnings data 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. Apptio had a negative return on equity of 41.76% and a negative net margin of 17.36%. The business had revenue of $45.23 million during the quarter, compared to analyst estimates of $43.72 million. Apptio’s revenue for the quarter was up 16.6% compared to the same quarter last year.
APTI has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Apptio from a “hold” rating to a “sell” rating in a research note on Thursday, June 1st. Oppenheimer Holdings, Inc. initiated coverage on shares of Apptio in a research note on Thursday, July 27th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Royal Bank Of Canada lifted their target price on shares of Apptio from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $23.00.
Institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors increased its holdings in shares of Apptio by 244.9% in the second quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock valued at $177,000 after purchasing an additional 7,242 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Apptio by 322.6% in the first quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock valued at $129,000 after purchasing an additional 8,400 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Apptio in the second quarter valued at approximately $207,000. Allen Holding Inc. NY acquired a new stake in shares of Apptio in the first quarter valued at approximately $148,000. Finally, HighTower Advisors LLC increased its holdings 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 valued at $179,000 after purchasing an additional 252 shares in the last quarter. 45.25% of the stock is owned by institutional investors and hedge funds.
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Apptio (NASDAQ:APTI) opened at 17.30 on Tuesday. The company has a 50-day moving average price of $17.45 and a 200-day moving average price of $17.45. Apptio has a one year low of $12.80 and a one year high of $24.60. The company’s market capitalization is $691.22 million.
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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