Today: Today, Apigee Corp. (APIC) Given Average Recommendation of “Hold” from Brokerages

Today, Apigee Corp. (APIC) Given Average Recommendation of “Hold” from Brokerages

Apigee Corp. (NASDAQ:APIC) has received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $18.20.

A number of analysts have commented on APIC shares. Nomura lowered Apigee Corp. from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a report on Thursday, September 8th. JPMorgan Chase & Co. downgraded Apigee Corp. from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $17.40 in a research note on Wednesday, September 14th. Credit Suisse Group AG downgraded Apigee Corp. from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $17.00 to $17.40 in a research note on Thursday, September 15th. Roth Capital downgraded Apigee Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, September 15th. Finally, Zacks Investment Research upgraded Apigee Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Tuesday, September 20th.

Apigee Corp. (NASDAQ:APIC) traded up 0.000% during trading on Friday, reaching $17.375. The stock’s market cap is $535.06 million. Apigee Corp. has a 12-month low of $5.35 and a 12-month high of $17.84. The stock’s 50-day moving average is $17.39 and its 200-day moving average is $13.97.

Apigee Corp. (NASDAQ:APIC) last issued its quarterly earnings data on Wednesday, September 14th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06. The firm 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%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.38) earnings per share. On average, analysts anticipate that Apigee Corp. will post ($0.77) earnings per share for the current year.

In other news, Director Promod Haque sold 299,589 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $17.40, for a total value of $5,212,848.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 40.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Herald Investment Management Ltd purchased a new position in Apigee Corp. during the first quarter valued at $1,943,000. Strs Ohio boosted its position in Apigee Corp. by 2,500.0% in the second quarter. Strs Ohio now owns 41,600 shares of the company’s stock valued at $508,000 after buying an additional 40,000 shares during the last quarter. Hood River Capital Management LLC purchased a new position in Apigee Corp. during the second quarter valued at $1,246,000. Kornitzer Capital Management Inc. KS boosted 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 during the last quarter. Finally, California State Teachers Retirement System boosted its position in Apigee Corp. by 200.8% in the second quarter. California State Teachers Retirement System now owns 32,291 shares of the company’s stock valued at $395,000 after buying an additional 21,556 shares during the last quarter. 42.52% of the stock is currently owned by hedge funds and other institutional investors.

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