Trade Report: The Apigee Corp. (APIC) Receives $18.20 Consensus Target Price from Analysts

The Apigee Corp. (APIC) Receives $18.20 Consensus Target Price from Analysts

Apigee Corp. (NASDAQ:APIC) has been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $18.20.

APIC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Apigee Corp. from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, September 20th. Nomura lowered shares of Apigee Corp. from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Thursday, September 8th. JMP Securities lowered shares of Apigee Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, October 10th. Credit Suisse Group AG lowered shares of Apigee Corp. from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $17.00 to $17.40 in a research note on Thursday, September 15th. Finally, JPMorgan Chase & Co. lowered shares of Apigee Corp. from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $14.00 to $17.40 in a research note on Wednesday, September 14th.

In other news, Director Promod Haque sold 299,589 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $17.40, for a total transaction of $5,212,848.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 40.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. Nationwide Fund Advisors boosted its stake 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 last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Apigee Corp. during the second quarter worth about $1,289,000. Cowen Prime Services LLC boosted its stake in shares of Apigee Corp. by 2.4% in the second quarter. Cowen Prime Services LLC now owns 17,000 shares of the company’s stock worth $208,000 after buying an additional 400 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of Apigee Corp. during the second quarter worth about $4,411,000. Finally, EAM Investors LLC purchased a new stake in shares of Apigee Corp. during the second quarter worth about $870,000. 42.52% of the stock is currently owned by institutional investors.

Apigee Corp. (NASDAQ:APIC) opened at 17.375 on Friday. Apigee Corp. has a 1-year low of $5.35 and a 1-year high of $17.84. The stock has a 50 day moving average price of $17.39 and a 200-day moving average price of $13.97.

Apigee Corp. (NASDAQ:APIC) last announced its earnings results on Wednesday, September 14th. The company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.06. The firm earned $25.10 million during the quarter. Apigee Corp. had a negative net margin of 45.11% and a negative return on equity of 68.81%. Apigee Corp.’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) earnings per share. Analysts expect that Apigee Corp. will post ($0.77) EPS for the current fiscal year.

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