Published On: Tue, Sep 20th, 2016

Apigee Corp. (APIC) Upgraded at Zacks Investment Research

Apigee Corp. (NASDAQ:APIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $19.00 target price on the stock. Zacks Investment Research’s target price 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. “
Other analysts have also recently issued research reports about the stock. Roth Capital raised their target price on shares of Apigee Corp. from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, May 26th. Credit Suisse Group AG cut shares of Apigee Corp. from an “outperform” rating to a “neutral” rating and raised their target price for the company from $17.00 to $17.40 in a report on Thursday, September 15th. JPMorgan Chase & Co. cut shares of Apigee Corp. from an “overweight” rating to a “neutral” rating and raised their target price for the company from $14.00 to $17.40 in a report on Wednesday, September 14th. Finally, Nomura cut shares of Apigee Corp. from a “buy” rating to a “neutral” rating in a report on Friday, September 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.47.

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Shares of Apigee Corp. (NASDAQ:APIC) traded down 0.23% during mid-day trading on Tuesday, reaching $17.35. 439,847 shares of the company’s stock traded hands. The firm’s market cap is $524.16 million. Apigee Corp. has a one year low of $5.35 and a one year high of $17.84. The firm’s 50-day moving average is $15.30 and its 200 day moving average is $11.66.
Apigee Corp. (NASDAQ:APIC) last issued its earnings results on Wednesday, September 14th. The company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The firm had revenue of $25.10 million for the quarter. Apigee Corp. had a negative net margin of 45.11% and a negative return on equity of 65.33%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same period last year, the business earned ($0.38) EPS. Analysts predict that Apigee Corp. will post ($0.74) earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in APIC. American International Group Inc. raised its position in shares of 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 in the last quarter. Nationwide Fund Advisors raised its position in shares of 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 during the period. Citadel Advisors LLC acquired a new position in shares of Apigee Corp. during the second quarter worth about $126,000. Barclays PLC acquired a new position in shares of Apigee Corp. during the second quarter worth about $130,000. Finally, Rhumbline Advisers acquired a new position in shares of Apigee Corp. during the second quarter worth about $131,000. Institutional investors own 43.77% of the company’s stock.
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.

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