Apigee Corp. (NASDAQ:APIC) has received an average rating of “Hold” from the seven brokerages that are currently covering the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $18.20.

APIC has been the subject of a number of research analyst reports. Roth Capital cut Apigee Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, September 15th. JPMorgan Chase & Co. reiterated a “market perform” rating on shares of Apigee Corp. in a report on Tuesday, October 11th. JMP Securities cut Apigee Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, October 10th. Credit Suisse Group AG cut Apigee Corp. from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $17.00 to $17.40 in a report on Thursday, September 15th. Finally, Nomura cut Apigee Corp. from a “buy” rating to a “neutral” rating in a report on Friday, September 9th.

In other news, Director Promod Haque sold 299,589 shares of Apigee Corp. stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 40.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in APIC. Water Island Capital LLC acquired a new stake in Apigee Corp. during the third quarter worth $8,220,000. Morgan Stanley increased its stake in Apigee Corp. by 591.7% in the third quarter. Morgan Stanley now owns 444,740 shares of the company’s stock worth $7,739,000 after buying an additional 380,441 shares during the last quarter. Royce & Associates LP acquired a new stake in Apigee Corp. during the second quarter worth $4,411,000. Candriam Luxembourg S.C.A. acquired a new stake in Apigee Corp. during the third quarter worth $5,713,000. Finally, K2 Principal Fund L.P. acquired a new stake in Apigee Corp. during the third quarter worth $5,207,000. Institutional investors own 42.52% of the company’s stock.

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

Apigee Corp. (NASDAQ:APIC) last posted its quarterly earnings results on Wednesday, September 14th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06. Apigee Corp. had a negative return on equity of 68.81% and a negative net margin of 45.11%. The business earned $25.10 million during the quarter. During the same quarter in the previous year, the business posted ($0.38) EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities research analysts anticipate that Apigee Corp. will post ($0.77) EPS for the current year.

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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.

5 Day Chart for NASDAQ:APIC

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