Apigee Corp. (NASDAQ:APIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $19.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 9.51% from the stock’s current price.

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. “

APIC has been the subject of a number of other reports. Roth Capital cut shares of Apigee Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, September 15th. Credit Suisse Group AG cut shares of Apigee Corp. from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $17.40 in a research note on Thursday, September 15th. JPMorgan Chase & Co. cut shares of Apigee Corp. from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $17.40 in a research note on Wednesday, September 14th. Finally, Nomura cut shares of Apigee Corp. from a “buy” rating to a “neutral” rating in a research note on Friday, September 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $17.47.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/apigee-corp-apic-stock-rating-upgraded-by-zacks-investment-research.html

Apigee Corp. (NASDAQ:APIC) traded down 0.23% on Tuesday, reaching $17.35. 439,847 shares of the company’s stock were exchanged. Apigee Corp. has a 12 month low of $5.35 and a 12 month high of $17.84. The firm has a 50 day moving average of $15.30 and a 200 day moving average of $11.66. The stock’s market capitalization is $524.16 million.

Apigee Corp. (NASDAQ:APIC) last posted its quarterly earnings results on Wednesday, September 14th. The company reported ($0.21) EPS for the quarter, topping the 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%. The business’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 business posted ($0.38) earnings per share. Equities analysts predict that Apigee Corp. will post ($0.74) earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in APIC. American International Group Inc. raised its position in Apigee Corp. by 196.1% in the second quarter. American International Group Inc. now owns 8,865 shares of the company’s stock worth $108,000 after buying an additional 5,871 shares in the last quarter. Nationwide Fund Advisors raised 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 in the last quarter. Citadel Advisors LLC purchased a new position in Apigee Corp. during the second quarter worth approximately $126,000. Barclays PLC purchased a new position in Apigee Corp. during the second quarter worth approximately $130,000. Finally, Rhumbline Advisers purchased a new position in Apigee Corp. during the second quarter worth approximately $131,000. 43.77% of the stock is currently owned by 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.

5 Day Chart for NASDAQ:APIC

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.