Apigee Corp. (APIC) Given Market Perform Rating at JPMorgan Chase & Co.
Apigee Corp. (NASDAQ:APIC)‘s stock had its “market perform” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research note issued on Tuesday.
APIC has been the subject of several other reports. Zacks Investment Research upgraded Apigee Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, September 20th. JMP Securities lowered Apigee Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday. Roth Capital lowered Apigee Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, September 15th. Credit Suisse Group AG lowered Apigee Corp. from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $17.00 to $17.40 in a research report on Thursday, September 15th. Finally, Nomura lowered Apigee Corp. from a “buy” rating to a “neutral” rating in a research report on Friday, September 9th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $17.47.
Apigee Corp. (NASDAQ:APIC) opened at 17.37 on Tuesday. The firm’s 50-day moving average price is $16.81 and its 200 day moving average price is $12.70. Apigee Corp. has a one year low of $5.35 and a one year high of $17.84. The firm’s market cap is $524.77 million.
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Apigee Corp. (NASDAQ:APIC) last posted its earnings results on Wednesday, September 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The company earned $25.10 million during the quarter. Apigee Corp. had a negative return on equity of 65.33% and a negative net margin of 45.11%. Apigee Corp.’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. On average, equities research analysts forecast that Apigee Corp. will post ($0.74) EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its stake in Apigee Corp. by 196.1% in the second quarter. American International Group Inc. now owns 8,865 shares of the company’s stock valued at $108,000 after buying an additional 5,871 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Apigee Corp. by 219.6% in the second quarter. Nationwide Fund Advisors now owns 9,861 shares of the company’s stock valued at $121,000 after buying an additional 6,776 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Apigee Corp. during the second quarter valued at approximately $126,000. Barclays PLC purchased a new stake in Apigee Corp. during the second quarter valued at approximately $130,000. Finally, Rhumbline Advisers purchased a new stake in Apigee Corp. during the second quarter valued at approximately $131,000. Hedge funds and other institutional investors own 42.71% of the company’s stock.
About Apigee Corp.
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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