Agora (NASDAQ:API) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Agora (NASDAQ:API) from a buy rating to a hold rating in a report issued on Saturday.

Separately, Bank of America reaffirmed a “buy” rating on shares of Agora in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Agora presently has an average rating of “Hold”.

Agora Price Performance

Shares of NASDAQ API opened at $3.98 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.70 and a current ratio of 6.70. The firm has a fifty day moving average of $4.17 and a 200 day moving average of $4.12. The firm has a market cap of $347.52 million, a PE ratio of 39.80 and a beta of 0.78. Agora has a one year low of $3.14 and a one year high of $5.49.

Agora (NASDAQ:API) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.18. Agora had a net margin of 7.03% and a return on equity of 1.82%. The business had revenue of $37.74 million for the quarter, compared to the consensus estimate of $37.01 million. As a group, research analysts predict that Agora will post 0.15 EPS for the current fiscal year.

Agora declared that its board has approved a stock buyback plan on Monday, June 1st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Agora

Several institutional investors and hedge funds have recently added to or reduced their stakes in API. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Agora during the fourth quarter worth $85,000. New York State Common Retirement Fund boosted its position in Agora by 78.6% during the fourth quarter. New York State Common Retirement Fund now owns 27,223 shares of the company’s stock worth $111,000 after acquiring an additional 11,980 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Agora by 213.0% during the second quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock worth $1,753,000 after acquiring an additional 313,175 shares during the last quarter. Institutional investors and hedge funds own 40.40% of the company’s stock.

About Agora

Agora, Inc operates a Real-Time Engagement (RTE) platform that enables developers to embed voice, video and interactive broadcasting capabilities into mobile and web applications. By providing a suite of software development kits (SDKs) and application programming interfaces (APIs), the company delivers low-latency audio and video streaming, real-time messaging and live interactive streaming services. Its platform is designed to support high-quality interactions across various network environments, making it suitable for use cases in social media, online gaming, distance learning, telehealth and enterprise communication.

The company’s core offerings include voice and video calling SDKs, interactive broadcast SDKs for one-to-many streaming, real-time messaging services and data stream APIs for synchronized data exchange.