Trading Report: The Apigee Corp. (APIC) Downgraded by JMP Securities

The Apigee Corp. (APIC) Downgraded by JMP Securities

JMP Securities lowered shares of Apigee Corp. (NASDAQ:APIC) from an outperform rating to a market perform rating in a research report report published on Monday.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Apigee Corp. from a sell rating to a hold rating in a research report on Wednesday, June 15th. Nomura downgraded Apigee Corp. from a buy rating to a neutral rating and set a $18.00 price target on the stock. in a research report on Thursday, September 8th. JPMorgan Chase & Co. downgraded Apigee Corp. from an overweight rating to a neutral rating and raised their price target for the company from $14.00 to $17.40 in a research report on Wednesday, September 14th. Credit Suisse Group AG downgraded Apigee Corp. from an outperform rating to a neutral rating and raised their price target for the company from $17.00 to $17.40 in a research report on Thursday, September 15th. Finally, Roth Capital downgraded Apigee Corp. from a buy rating to a neutral rating in a research report on Thursday, September 15th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $17.47.

Shares of Apigee Corp. (NASDAQ:APIC) opened at 17.37 on Monday. Apigee Corp. has a 12 month low of $5.35 and a 12 month high of $17.84. The company’s 50 day moving average price is $16.90 and its 200 day moving average price is $12.77. The company’s market cap is $524.77 million.

Apigee Corp. (NASDAQ:APIC) last posted its quarterly earnings data on Wednesday, September 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating 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 68.81% and a negative net margin of 45.11%. Apigee Corp.’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.38) EPS. On average, equities analysts expect that Apigee Corp. will post ($0.74) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cowen Prime Services LLC increased its position in Apigee Corp. by 2.4% in the second quarter. Cowen Prime Services LLC now owns 17,000 shares of the company’s stock valued at $208,000 after buying an additional 400 shares in the last quarter. Geode Capital Management LLC increased its position in Apigee Corp. by 1.7% in the first quarter. Geode Capital Management LLC now owns 52,343 shares of the company’s stock valued at $434,000 after buying an additional 900 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in 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. Schwab Charles Investment Management Inc. increased its position 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 valued at $314,000 after buying an additional 2,547 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Apigee Corp. by 0.5% in the first quarter. UBS Asset Management Americas Inc. now owns 651,221 shares of the company’s stock valued at $5,412,000 after buying an additional 3,327 shares in the last quarter. Hedge funds and other institutional investors own 42.71% of the company’s stock.

Apigee Corp. Company Profile

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