Apigee Corp Forms Bearish Double Bottom; Strong Momentum for Sellers

The chart of Apigee Corp (APIC) shows a double bottom with $6.06 target or 14.00% below today’s $7.05 share price. The 9 months chart pattern indicates high risk for the $210.13 million company. It was reported on Mar, 1 by Finviz.com. If the $6.06 price target is reached, the company will be worth $29.42M less. Double bottoms are rare but powerful chart patterns. The stock is up 20.60% or $1.2 after the news, hitting $7.05 per share. About 256,265 shares traded hands or 22.19% up from the average. Apigee Corp (NASDAQ:APIC) has declined 38.16% since July 24, 2015 and is downtrending. It has underperformed by 31.07% the S&P500.

Out of 7 analysts covering Apigee Corp (NASDAQ:APIC), 7 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $21 is the highest target while $10 is the lowest. The $17.43 average target is 130.50% above today’s ($7.05) stock price. Apigee Corp was the topic in 3 analyst reports since August 5, 2015 according to StockzIntelligence Inc. JP Morgan upgraded the stock on August 5 to “Overweight” rating.

According to Zacks Investment Research, “Apigee Corporation offers an application program interface based software platform. The Company’s products consist of Apigee Edge, Apigee Insights, Apigee Developer and Apigee Link. Apigee Edge provides a solution that addresses the entire digital value chain by eliminating the need to integrate disparate point solutions. Apigee Insights delivers predictive analytics. Apigee Developer consists of Apigee Edge Trial and products, such as Apigee 127 and Apigee Zetta. Apigee Link offers internet of things platform for connecting devices to the Internet. Apigee Corporation is headquartered in San Jose, California.”

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Add Comment