Apigee Corp. (APIC) Short Interest Down 41.8% in September
Apigee Corp. (NASDAQ:APIC) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 573,466 shares, a drop of 41.8% from the August 31st total of 984,534 shares. Based on an average trading volume of 1,090,413 shares, the short-interest ratio is presently 0.5 days. Approximately 3.0% of the shares of the company are short sold.
A number of research analysts recently weighed in on the company. Nomura downgraded Apigee Corp. from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Thursday, September 8th. Zacks Investment Research raised 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. JPMorgan Chase & Co. downgraded Apigee Corp. from an “overweight” rating to a “neutral” rating and raised their price objective for the company 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 raised their price objective for the company from $17.00 to $17.40 in a research note on Thursday, September 15th. Finally, Roth Capital lowered Apigee Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, September 15th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $17.47.
Shares of Apigee Corp. (NASDAQ:APIC) opened at 17.44 on Friday. The stock’s 50 day moving average price is $16.18 and its 200 day moving average price is $12.16. Apigee Corp. has a one year low of $5.35 and a one year high of $17.84. The firm’s market cap is $526.88 million.
Apigee Corp. (NASDAQ:APIC) last issued 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. Apigee Corp. had a negative net margin of 45.11% and a negative return on equity of 65.33%. The company had revenue of $25.10 million for the quarter. During the same quarter in the prior year, the business posted ($0.38) EPS. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities analysts anticipate that Apigee Corp. will post ($0.74) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted its stake in shares of Apigee Corp. by 30.7% in the second quarter. UBS Asset Management Americas Inc. now owns 851,078 shares of the company’s stock valued at $10,401,000 after buying an additional 199,857 shares in the last quarter. EAM Investors LLC bought a new stake in shares of Apigee Corp. during the second quarter valued at about $870,000. Bogle Investment Management L P DE bought a new stake in shares of Apigee Corp. during the first quarter valued at about $399,000. Strs Ohio boosted its stake in shares of 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 in the last quarter. Finally, Herald Investment Management Ltd bought a new stake in shares of Apigee Corp. during the first quarter valued at about $1,943,000. Institutional investors own 43.02% 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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