Agora (NASDAQ:API) Rating Lowered to “Hold” at Wall Street Zen

Agora (NASDAQ:API) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Separately, Bank of America upped their target price on Agora from $6.60 to $6.80 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.80.

Agora Stock Down 5.2%

API stock opened at $4.40 on Friday. The firm has a 50 day moving average of $4.17 and a 200 day moving average of $4.10. The stock has a market capitalization of $384.21 million, a PE ratio of 40.00 and a beta of 0.80. The company has a quick ratio of 6.70, a current ratio of 6.70 and a debt-to-equity ratio of 0.16. Agora has a 52 week low of $3.14 and a 52 week high of $5.49.

Agora (NASDAQ:API) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.22. The business had revenue of $40.42 million for the quarter, compared to analyst estimates of $40.44 million. Agora had a net margin of 7.23% and a return on equity of 1.95%. Sell-side analysts forecast that Agora will post 0.14 earnings per share for the current year.

Agora announced that its Board of Directors has approved a share buyback plan on Monday, June 1st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Agora

A number of institutional investors have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey acquired a new stake in Agora during the 4th quarter valued at approximately $85,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Agora in the second quarter worth $101,000. New York State Common Retirement Fund increased its stake in shares of Agora by 78.6% in 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 period. Finally, Marshall Wace LLP raised its holdings in shares of 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 purchasing an additional 313,175 shares during the last quarter. 40.40% of the stock is owned by hedge funds and other institutional investors.

Agora Company Profile

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.