Apigee Corp. (NASDAQ:APIC) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 573,466 shares, a decline of 41.8% from the August 31st total of 984,534 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily trading volume, of 1,090,413 shares, the short-interest ratio is presently 0.5 days.
Several equities research analysts have recently commented on APIC shares. Zacks Investment Research upgraded shares of Apigee Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Roth Capital downgraded shares of Apigee Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, September 15th. Credit Suisse Group AG downgraded shares of Apigee Corp. from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $17.00 to $17.40 in a research note on Thursday, September 15th. JPMorgan Chase & Co. downgraded shares of Apigee Corp. from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $17.40 in a research note on Wednesday, September 14th. Finally, Nomura downgraded shares of Apigee Corp. from a “buy” rating to a “neutral” rating in a research report on Friday, September 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $17.47.
A number of hedge funds have recently modified their holdings of the company. American International Group Inc. boosted its stake in shares of 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 in 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 period. Citadel Advisors LLC purchased a new stake in Apigee Corp. during the second quarter valued at approximately $126,000. Barclays PLC purchased a new stake in Apigee Corp. during the second quarter valued at approximately $130,000. Finally, Rhumbline Advisers purchased a new stake in Apigee Corp. during the second quarter valued at approximately $131,000. Hedge funds and other institutional investors own 43.02% of the company’s stock.
Apigee Corp. (NASDAQ:APIC) opened at 17.39 on Friday. The firm’s market capitalization is $525.37 million. The company’s 50-day moving average is $16.65 and its 200-day moving average is $12.50. Apigee Corp. has a 52-week low of $5.35 and a 52-week high of $17.84.
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 Zacks’ consensus estimate of ($0.27) by $0.06. The firm earned $25.10 million during the quarter. Apigee Corp. had a negative net margin of 45.11% and a negative return on equity of 65.33%. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) EPS. On average, analysts predict that Apigee Corp. will post ($0.74) EPS for the current year.
Apigee Corp. Company Profile
Apigee Corporation (Apigee) is engaged in providing a software platform that allows businesses to design, deploy, and scale application program interfaces (APIs), as a connection layer between their core information technology (IT) systems and data and the applications, with which their customers, partners, employees and other users engage with the business.
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