Roth Capital Downgrades Apigee Corp. (APIC) to Neutral
Several other equities analysts also recently issued reports on the stock. Nomura downgraded shares of Apigee Corp. from a buy rating to a neutral rating and set a $18.00 price objective on the stock. in a report on Thursday, September 8th. Zacks Investment Research raised shares of Apigee Corp. from a sell rating to a hold rating in a report on Tuesday, July 26th. Credit Suisse Group AG downgraded shares of Apigee Corp. from an outperform rating to a neutral rating and raised their price target for the stock from $17.00 to $17.40 in a research note on Thursday, September 15th. Finally, JPMorgan Chase & Co. downgraded shares of Apigee Corp. from an overweight rating to a neutral rating and raised their price target for the stock from $14.00 to $17.40 in a research note on Wednesday, September 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $17.47.
Apigee Corp. (NASDAQ:APIC) opened at 17.35 on Thursday. The company’s market capitalization is $524.16 million. Apigee Corp. has a one year low of $5.35 and a one year high of $17.84. The company’s 50-day moving average is $15.44 and its 200 day moving average is $11.73.
Apigee Corp. (NASDAQ:APIC) last posted its quarterly earnings data on Wednesday, September 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The business had revenue of $25.10 million for the quarter. Apigee Corp. had a negative net margin of 45.11% and a negative return on equity of 65.33%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.38) earnings per share. On average, equities analysts anticipate that Apigee Corp. will post ($0.74) earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. American International Group Inc. boosted its stake in Apigee Corp. by 196.1% in the second quarter. American International Group Inc. now owns 8,865 shares of the company’s stock valued at $108,000 after buying an additional 5,871 shares during the last quarter. Nationwide Fund Advisors boosted its stake 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 last quarter. Citadel Advisors LLC purchased a new stake in Apigee Corp. during the second quarter valued at about $126,000. Barclays PLC purchased a new stake in Apigee Corp. during the second quarter valued at about $130,000. Finally, Rhumbline Advisers purchased a new stake in Apigee Corp. during the second quarter valued at about $131,000. 43.77% of the stock is currently owned by hedge funds and other institutional investors.
Apigee Corp. Company Profile
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.
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