Apigee Corp (APIC) is Downgraded by Nomura to Neutral

Apigee Corp (APIC) was Downgraded by Nomura to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Nomura advised their investors in a research report released on Sep 9, 2016.

On the company’s financial health, Apigee Corp reported $-0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 25, 2016. Analyst had a consensus of $-0.27. The company had revenue of $23.50 million for the quarter, compared to analysts expectations of $23.01 million. The company’s revenue was up 35.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.41 EPS.

Apigee Corp opened for trading at $16.37 and hit $16.66 on the upside on Wednesday, eventually ending the session at $16.34, with a gain of 0.12% or 0.02 points. The heightened volatility saw the trading volume jump to 104,574 shares. Company has a market cap of $489 M.

In a different news, on Jun 8, 2016, Shankar Ramaswamy (VP of Engineering & Operations) sold 15,636 shares at $11.49 per share price. According to the SEC, 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.

Apigee Corp

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