Nomura Securities Starts Apigee (APIC) at Buy

Nomura Securities initiates coverage on Apigee (NASDAQ: APIC) with a Buy rating and a price target of $18.00.

Analyst Rick Sherlund commented, "Apigee is a leading provider of software to manage APIs, the interfaces that enable a business to interact digitally with its customers and partners. The API management platform is critical supporting infrastructure for the shift in computing platforms to mobile, cloud and eventually IoT. Growth opportunities are strong and management has a reputation of good industry vision. However, competition is ample and the business is lumpy (volatility of large deal closures that are not always predictable), so there is risk of irregular growth that could be disruptive to the stock on a quarterly basis. We balance this risk with the market growth opportunities and the perspective that in a consolidating industry the company may have strategic options going forward."

For an analyst ratings summary and ratings history on Apigee click here. For more ratings news on Apigee click here.

Shares of Apigee closed at $14.42 yesterday.

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