Roth Capital Downgrades Apigee Corp. (APIC) to Neutral
Other research analysts have also recently issued research reports about the stock. Pacific Crest reiterated a buy rating on shares of Apigee Corp. in a research note on Sunday, May 22nd. Zacks Investment Research upgraded shares of Apigee Corp. from a sell rating to a hold rating in a research note on Tuesday, July 26th. Credit Suisse Group AG cut shares of Apigee Corp. from an outperform rating to a neutral rating and lifted their target price for the company from $17.00 to $17.40 in a research note on Thursday, September 15th. JPMorgan Chase & Co. cut shares of Apigee Corp. from an overweight rating to a neutral rating and lifted their target price for the company from $14.00 to $17.40 in a research note on Wednesday, September 14th. Finally, Nomura cut shares of Apigee Corp. from a buy rating to a neutral rating in a research note on Friday, September 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $17.47.
Apigee Corp. (NASDAQ:APIC) opened at 17.35 on Thursday. Apigee Corp. has a 1-year low of $5.35 and a 1-year high of $17.84. The company has a 50-day moving average price of $15.44 and a 200-day moving average price of $11.73. The company’s market cap is $524.16 million.
Apigee Corp. (NASDAQ:APIC) last issued its quarterly earnings results on Wednesday, September 14th. The company reported ($0.21) earnings per share for the quarter, topping 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 company’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.38) EPS. On average, analysts expect that Apigee Corp. will post ($0.74) EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of APIC. EAM Investors LLC purchased a new position in shares of Apigee Corp. during the second quarter valued at approximately $870,000. Granite Investment Partners LLC purchased a new position in shares of Apigee Corp. during the first quarter valued at approximately $1,472,000. Bogle Investment Management L P DE purchased a new position in shares of Apigee Corp. during the first quarter valued at approximately $399,000. Strs Ohio increased its position in shares of Apigee Corp. by 2,500.0% in the second quarter. Strs Ohio now owns 41,600 shares of the company’s stock valued at $508,000 after buying an additional 40,000 shares during the last quarter. Finally, Herald Investment Management Ltd purchased a new position in shares of Apigee Corp. during the first quarter valued at approximately $1,943,000. 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.
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