Several other equities analysts also recently weighed in on the company. Zacks Investment Research raised Apigee Corp. from a hold rating to a buy rating and set a $19.00 target price on the stock in a research report on Tuesday, September 20th. Roth Capital downgraded Apigee Corp. from a buy rating to a neutral rating in a research report on Thursday, September 15th. Credit Suisse Group AG downgraded Apigee Corp. from an outperform rating to a neutral rating and boosted their target price for the company from $17.00 to $17.40 in a research report on Thursday, September 15th. JPMorgan Chase & Co. downgraded Apigee Corp. from an overweight rating to a neutral rating and boosted their target price for the company from $14.00 to $17.40 in a research report on Wednesday, September 14th. Finally, Nomura downgraded Apigee Corp. from a buy rating to a neutral rating in a research report on Friday, September 9th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $17.47.
Shares of Apigee Corp. (NASDAQ:APIC) traded up 0.06% on Monday, reaching $17.38. 19,702 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $16.81 and a 200 day moving average price of $12.70. The firm’s market cap is $525.07 million. Apigee Corp. has a one year low of $5.35 and a one year high of $17.84.
Apigee Corp. (NASDAQ:APIC) last released its earnings results on Wednesday, September 14th. The company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The firm 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 business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.38) EPS. Analysts expect that Apigee Corp. will post ($0.74) EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in APIC. American International Group Inc. increased its position 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 valued at $108,000 after buying an additional 5,871 shares during the period. Nationwide Fund Advisors increased 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 worth $121,000 after buying an additional 6,776 shares during the last quarter. Citadel Advisors LLC purchased a new position in Apigee Corp. during the second quarter worth about $126,000. Barclays PLC purchased a new position in Apigee Corp. during the second quarter worth about $130,000. Finally, Rhumbline Advisers purchased a new position in Apigee Corp. during the second quarter worth about $131,000. 42.71% of the stock is currently owned by institutional investors.
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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