Analysts Set Apigee Corp. (NASDAQ:APIC) Price Target at $17.40
Shares of Apigee Corp. (NASDAQ:APIC) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the firm. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.40.
APIC has been the topic of a number of research analyst reports. Roth Capital increased their price target on shares of Apigee Corp. from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, May 26th. 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 lowered shares of Apigee Corp. from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $17.00 to $17.40 in a report on Thursday, September 15th. JPMorgan Chase & Co. lowered shares of Apigee Corp. from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $17.40 in a report on Wednesday, September 14th. Finally, Nomura lowered shares of Apigee Corp. from a “buy” rating to a “neutral” rating in a report on Friday, September 9th.
Several institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP acquired a new position in Apigee Corp. during the second quarter valued at approximately $4,411,000. Allianz Asset Management AG acquired a new position in Apigee Corp. during the second quarter valued at approximately $3,564,000. BlackRock Fund Advisors raised its position in Apigee Corp. by 179.0% in the second quarter. BlackRock Fund Advisors now owns 395,266 shares of the company’s stock valued at $4,830,000 after buying an additional 253,585 shares in the last quarter. Herald Investment Management Ltd acquired a new position in Apigee Corp. during the first quarter valued at approximately $1,943,000. Finally, UBS Asset Management Americas Inc. raised its position in Apigee Corp. by 30.7% in the second quarter. UBS Asset Management Americas Inc. now owns 851,078 shares of the company’s stock valued at $10,401,000 after buying an additional 199,857 shares in the last quarter. 43.77% of the stock is currently owned by institutional investors.
Apigee Corp. (NASDAQ:APIC) opened at 17.39 on Thursday. The company’s market cap is $525.37 million. The company’s 50-day moving average is $15.30 and its 200-day moving average is $11.66. 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) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.06. The firm 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%. Apigee Corp.’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) EPS. On average, analysts anticipate that Apigee Corp. will post ($0.74) EPS for the current fiscal year.
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 MarketBeat.com's FREE daily email newsletter.