Roth Capital downgraded shares of Apigee Corp. (NASDAQ:APIC) from a buy rating to a neutral rating in a research report sent to investors on Thursday.

Analyst Recommendations for Apigee Corp. (NASDAQ:APIC)

Several other research analysts have also recently issued reports on APIC. Pacific Crest reissued a buy rating on shares of Apigee Corp. in a research report on Sunday, May 22nd. Zacks Investment Research raised Apigee Corp. from a sell rating to a hold rating in a research report on Tuesday, June 28th. Nomura cut Apigee Corp. from a buy rating to a neutral rating in a research report on Friday, September 9th. JPMorgan Chase & Co. cut Apigee Corp. from an overweight rating to a neutral rating and raised their target price for the stock from $14.00 to $17.40 in a research report on Wednesday, September 14th. Finally, Credit Suisse Group AG cut Apigee Corp. from an outperform rating to a neutral rating and raised their target price for the stock from $17.00 to $17.40 in a research report on Thursday, September 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $15.80.

Shares of Apigee Corp. (NASDAQ:APIC) opened at 17.39 on Thursday. The company has a 50-day moving average price of $15.30 and a 200-day moving average price of $11.66. The stock’s market cap is $525.37 million. Apigee Corp. has a 1-year low of $5.35 and a 1-year high of $17.84.

Apigee Corp. (NASDAQ:APIC) last announced its earnings results on Wednesday, September 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.06. The business 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 company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) earnings per share. On average, equities analysts expect that Apigee Corp. will post ($0.74) earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its stake 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 worth $10,401,000 after buying an additional 199,857 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Apigee Corp. by 9.9% in the second quarter. Lord Abbett & CO. LLC now owns 471,683 shares of the company’s stock worth $5,764,000 after buying an additional 42,512 shares during the last quarter. Vanguard Group Inc. increased its stake in Apigee Corp. by 23.2% in the second quarter. Vanguard Group Inc. now owns 442,544 shares of the company’s stock worth $5,408,000 after buying an additional 83,363 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in Apigee Corp. by 36.7% in the second quarter. Mutual of America Capital Management LLC now owns 423,618 shares of the company’s stock worth $5,177,000 after buying an additional 113,755 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in Apigee Corp. by 179.0% in the second quarter. BlackRock Fund Advisors now owns 395,266 shares of the company’s stock worth $4,830,000 after buying an additional 253,585 shares during the last quarter. 43.77% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:APIC

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