Credit Suisse Downgrades Apigee Corp to Neutral with Price Target $17.40

Brokerage firm Credit Suisse Downgrades its rating on Apigee Corp(NASDAQ:APIC). In a research note issued to the investors, the brokerage major Raises the price-target to $17.40 per share. The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Sep 15, 2016.

In a different note, On Sep 14, 2016, JP Morgan said it Downgrades its rating on Apigee Corp. The shares have been rated ‘Neutral’ by the firm. On Sep 9, 2016, Nomura said it Downgrades its rating on Apigee Corp. The shares have been rated ‘Neutral’ by the firm.

Apigee Corp (APIC) shares turned negative on Tuesdays trading session with the shares closing down -0.04 points or -0.23% at a volume of 4,39,847. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.4. The peak price level was also seen at $17.4 while the days lowest was $17.34. Finally the shares closed at $17.35. The 52-week high of the shares is $17.84 while the 52-week low is $5.35. According to the latest information available, the market cap of the company is $520 M.

Apigee Corp(APIC) last announced its earnings results on Sep 14, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $25.12M. Analysts had an estimated revenue of $24.94M. Earnings per share were $-0.21. Analysts had estimated an EPS of $-0.27.

Several Insider Transactions has been reported to the SEC. On Jun 8, 2016, Shankar Ramaswamy (VP of Engineering & Operations) sold 15,636 shares at $11.49 per share price.Also, On Sep 30, 2015, Stacey Giamalis (Chief Counsel) purchased 344 shares at $10.48 per share price.On Sep 30, 2015, Chetan Kapoor (CEO) purchased 5,000 shares at $10.03 per share price, according to the Form-4 filing with the securities and exchange commission.

Apigee Corporation (Apigee) is a provider of an application program interface (API)-based software platform that enables digital connectivity and business insights. The Company’s platform allows businesses to design deploy and scale APIs as a connection layer between its information technology (IT) systems and data and the applications with which its customers partners employees and other users engage with its business. The Company’s platform consists of following products: Apigee Edge Apigee Insights Apigee Developer and Apigee Link. Its Apigee Edge provides a solution that addresses the entire digital value chain by eliminating the need to integrate disparate point solutions. Its Apigee Insights delivers predictive analytics. The Apigee Developer consists of Apigee Edge Trial and two open source products such as Apigee 127 and Apigee Zetta. Apigee Link is the Company’s Internet of things (IoT) platform for connecting devices to the Internet.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *