Apigee Corp. (APIC) Downgraded by Credit Suisse Group AG
Credit Suisse Group AG lowered shares of Apigee Corp. (NASDAQ:APIC) from an outperform rating to a neutral rating in a research note published on Thursday morning. The firm currently has $17.40 price objective on the stock, up from their prior price objective of $17.00.
Other equities research analysts also recently issued reports about the company. Roth Capital lifted their price objective on Apigee Corp. from $15.00 to $17.00 and gave the company a buy rating in a report on Thursday, May 26th. Pacific Crest reaffirmed a buy rating on shares of Apigee Corp. in a report on Sunday, May 22nd. Zacks Investment Research raised Apigee Corp. from a sell rating to a hold rating in a report on Tuesday, June 28th. JPMorgan Chase & Co. downgraded Apigee Corp. from an overweight rating to a neutral rating and lifted their price objective for the company from $14.00 to $17.40 in a report on Wednesday, September 14th. Finally, Nomura downgraded Apigee Corp. from a buy rating to a neutral rating in a report on Friday, September 9th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $15.80.
Apigee Corp. (NASDAQ:APIC) opened at 17.39 on Thursday. The firm has a 50-day moving average of $15.30 and a 200 day moving average of $11.66. Apigee Corp. has a one year low of $5.35 and a one year high of $17.84. The company’s market capitalization is $525.37 million.
Apigee Corp. (NASDAQ:APIC) last released its quarterly earnings data on Wednesday, September 14th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.06. The company had revenue of $25.10 million for the quarter. Apigee Corp. had a negative return on equity of 65.33% and a negative net margin of 45.11%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.38) earnings per share. Equities research analysts predict that Apigee Corp. will post ($0.74) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of APIC. American International Group Inc. boosted its position in Apigee Corp. by 196.1% in the second quarter. American International Group Inc. now owns 8,865 shares of the company’s stock worth $108,000 after buying an additional 5,871 shares during the period. Nationwide Fund Advisors boosted its position in Apigee Corp. by 219.6% in the second quarter. Nationwide Fund Advisors now owns 9,861 shares of the company’s stock valued at $121,000 after buying an additional 6,776 shares during the period. Citadel Advisors LLC bought a new position in Apigee Corp. during the second quarter valued at $126,000. Barclays PLC bought a new position in Apigee Corp. during the second quarter valued at $130,000. Finally, Rhumbline Advisers bought a new position in Apigee Corp. during the second quarter valued at $131,000. Institutional investors own 43.77% of the company’s stock.
About Apigee Corp.
Apigee Corporation (Apigee) is a provider of an application program interface (API)-based software platform that enables digital connectivity and business insights. The Company’s platform allows businesses to design, deploy and scale APIs as a connection layer between its information technology (IT) systems and data and the applications with which its customers, partners, employees and other users engage with its business.
Receive News & Ratings for Apigee Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apigee Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.