The company, which is technology business management solutions provider, came out with an IPO on September 22 with a price range of $13–$15. However, the company priced its 6.0 million offering at $16 a share on September 23. The stock opened 47 percent higher than the IPO price.
Since then, the stock has traded between $18.78 and $24.60 with a return of 17.4 percent to 53.7 percent. Based on the current price target set by different brokerages, the least upside potential is about 3 percent and the biggest reward is about 42.5 percent.
- Bank of America initiated with a Buy rating and $26 as the price target.
- Jefferies started with a Buy rating with a target price of $29.
- RBC Capital started the stock with an Outperform rating and $23 as the price objective.
- Pacific Crest initiated with an Overweight rating and a price target of $26.
The following brokerages remain Neutral:
- JPMorgan started with a price tag of $23 and a Neutral rating.
- Goldman Sachs Group sets a price objective of $21 with a Neutral rating.
- Barclays commenced with a Equal-Weight rating and a target price of $23.
At last check, Apptio was down 1.66 percent at $20.18.
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