Zacks Investment Research upgraded shares of Apigee Corp. (NASDAQ:APIC) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $19.00 price objective on the stock.

According to Zacks, “Apigee Corporation offers an application program interface based software platform. The Company’s products consist of Apigee Edge, Apigee Insights, Apigee Developer and Apigee Link. Apigee Edge provides a solution that addresses the entire digital value chain by eliminating the need to integrate disparate point solutions. Apigee Insights delivers predictive analytics. Apigee Developer consists of Apigee Edge Trial and products, such as Apigee 127 and Apigee Zetta. Apigee Link offers internet of things platform for connecting devices to the Internet. Apigee Corporation is headquartered in San Jose, California. “

Several other equities analysts have also recently issued reports on the stock. Nomura cut shares of Apigee Corp. from a buy rating to a neutral rating and set a $18.00 price target for the company. in a research report on Thursday, September 8th. Credit Suisse Group AG cut shares of Apigee Corp. from an outperform rating to a neutral rating and upped their price target for the company 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 upped their price target for the company 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $17.47.

Shares of Apigee Corp. (NASDAQ:APIC) opened at 17.39 on Tuesday. The company’s market capitalization is $525.37 million. The company has a 50-day moving average of $15.71 and a 200 day moving average of $11.81. Apigee Corp. has a 52-week low of $5.35 and a 52-week high of $17.84.

Apigee Corp. (NASDAQ:APIC) last released its quarterly earnings data on Wednesday, September 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.06. The business 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%. Apigee Corp.’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.38) earnings per share. Analysts predict that Apigee Corp. will post ($0.74) earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Apigee Corp. by 200.8% in the second quarter. California State Teachers Retirement System now owns 32,291 shares of the company’s stock valued at $395,000 after buying an additional 21,556 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of Apigee Corp. by 1.2% in the second quarter. Kornitzer Capital Management Inc. KS now owns 104,600 shares of the company’s stock valued at $1,278,000 after buying an additional 1,200 shares in the last quarter. Hood River Capital Management LLC bought a new position in shares of Apigee Corp. during the second quarter valued at about $1,246,000. Strs Ohio raised its position 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 valued at $508,000 after buying an additional 40,000 shares in the last quarter. Finally, Herald Investment Management Ltd bought a new position in shares of Apigee Corp. during the first quarter valued at about $1,943,000. 43.77% of the stock is currently owned by institutional investors and hedge funds.

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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