Analysts Set Apigee Corp. (NASDAQ:APIC) Price Target at $17.40
Apigee Corp. (NASDAQ:APIC) has earned a consensus rating of “Hold” from the six research firms that are presently covering the company. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.40.
APIC has been the topic of several research reports. Nomura cut shares of Apigee Corp. from a “buy” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research report on Thursday, September 8th. Zacks Investment Research upgraded shares of Apigee Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Credit Suisse Group AG cut shares of Apigee Corp. from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $17.00 to $17.40 in a research report on Thursday, September 15th. JPMorgan Chase & Co. cut shares of Apigee Corp. from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $14.00 to $17.40 in a research report on Wednesday, September 14th. Finally, Roth Capital cut shares of Apigee Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, September 15th.
Shares of Apigee Corp. (NASDAQ:APIC) opened at 17.39 on Thursday. The firm’s 50-day moving average is $15.30 and its 200 day moving average is $11.66. Apigee Corp. has a 12 month low of $5.35 and a 12 month high of $17.84. The stock’s market cap is $525.37 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, beating the consensus estimate of ($0.27) by $0.06. Apigee Corp. had a negative net margin of 45.11% and a negative return on equity of 65.33%. The business had revenue of $25.10 million for the quarter. During the same period in the prior year, the firm earned ($0.38) EPS. Apigee Corp.’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities analysts predict that Apigee Corp. will post ($0.74) EPS for the current year.
Several hedge funds have recently modified their holdings of APIC. EAM Investors LLC bought a new stake in shares of Apigee Corp. during the second quarter worth about $870,000. Granite Investment Partners LLC bought a new stake in shares of Apigee Corp. during the first quarter worth about $1,472,000. Bogle Investment Management L P DE bought a new stake in shares of Apigee Corp. during the first quarter worth about $399,000. Strs Ohio raised its stake 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 worth $508,000 after buying an additional 40,000 shares in the last quarter. Finally, Herald Investment Management Ltd bought a new stake in shares of Apigee Corp. during the first quarter worth about $1,943,000. 43.77% of the stock is owned by hedge funds and other institutional investors.
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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