Apigee Corp. (APIC) Earns “Market Perform” Rating from JPMorgan Chase & Co.
Apigee Corp. (NASDAQ:APIC)‘s stock had its “market perform” rating reissued by stock analysts at JPMorgan Chase & Co. in a report released on Tuesday.
Several other equities analysts have also weighed in on APIC. Credit Suisse Group AG lowered Apigee Corp. from an “outperform” rating to a “neutral” rating and increased their target price for the company from $17.00 to $17.40 in a research note on Thursday, September 15th. Roth Capital lowered Apigee Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, September 15th. Zacks Investment Research raised Apigee Corp. from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, September 20th. Nomura lowered Apigee Corp. from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research note on Thursday, September 8th. Finally, JMP Securities lowered Apigee Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.47.
Apigee Corp. (NASDAQ:APIC) last posted its quarterly earnings results on Wednesday, September 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating 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%. Apigee Corp.’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.38) EPS.
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Several large investors have recently added to or reduced their stakes in the company. Personal Capital Advisors Corp acquired a new stake in Apigee Corp. during the second quarter worth approximately $244,000. Schwab Charles Investment Management Inc. raised its stake in Apigee Corp. by 11.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 25,694 shares of the company’s stock worth $314,000 after buying an additional 2,547 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in Apigee Corp. during the second quarter worth approximately $146,000. Harber Asset Management LLC acquired a new stake in Apigee Corp. during the second quarter worth approximately $507,000. Finally, Barclays PLC acquired a new stake in Apigee Corp. during the second quarter worth approximately $130,000. 42.71% of the stock is currently owned by institutional investors.
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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