Q3 2018 EPS Estimates for Apptio Inc (APTI) Reduced by Jefferies Group

Apptio Inc (NASDAQ:APTI) – Equities research analysts at Jefferies Group lowered their Q3 2018 earnings per share (EPS) estimates for Apptio in a research note issued to investors on Thursday, according to Zacks Investment Research. Jefferies Group analyst J. Difucci now anticipates that the technology company will post earnings of $0.00 per share for the quarter, down from their prior forecast of $0.01. Jefferies Group also issued estimates for Apptio’s Q4 2018 earnings at ($0.01) EPS.

APTI has been the subject of a number of other research reports. Zacks Investment Research downgraded Apptio from a “hold” rating to a “sell” rating in a report on Monday, May 8th. Barclays PLC dropped their price objective on Apptio to $22.00 in a report on Friday, February 10th. JPMorgan Chase & Co. upgraded Apptio from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $16.00 to $18.00 in a report on Wednesday, April 26th. Finally, Royal Bank of Canada upgraded Apptio from a “sector perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $23.00.

Earnings History and Estimates for Apptio (NASDAQ:APTI)

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Shares of Apptio (NASDAQ:APTI) traded up 0.33% during trading on Monday, hitting $15.30. The stock had a trading volume of 174,501 shares. The firm’s market cap is $591.39 million. The stock has a 50 day moving average of $12.71 and a 200 day moving average of $15.38. Apptio has a 52-week low of $10.77 and a 52-week high of $24.60.

Apptio (NASDAQ:APTI) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $43.90 million for the quarter, compared to the consensus estimate of $42.46 million. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.31) earnings per share.

Hedge funds and other institutional investors have recently modified their holdings of the stock. G2 Investment Partners Management LLC bought a new position in shares of Apptio during the third quarter valued at approximately $217,000. Spark Investment Management LLC bought a new position in shares of Apptio during the third quarter valued at approximately $221,000. 1st Global Advisors Inc. bought a new position in shares of Apptio during the first quarter valued at approximately $127,000. Wells Fargo & Company MN boosted its position 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 buying an additional 8,400 shares during the period. Finally, Allen Holding Inc. NY bought a new position in shares of Apptio during the first quarter valued at approximately $148,000.

In other news, CRO Lawrence Blasko sold 5,000 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $13.51, for a total transaction of $67,550.00. Following the completion of the transaction, the executive now directly owns 5,000 shares of the company’s stock, valued at $67,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Greylock Xii Gp Llc sold 3,009,883 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $13.00, for a total value of $39,128,479.00. The disclosure for this sale can be found here.

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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