Wall Street Zen Downgrades Agora (NASDAQ:API) to Hold

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

Several other research firms have also recently weighed in on API. Bank of America reissued a “buy” rating on shares of Agora in a research report on Wednesday. Zacks Research cut Agora from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Agora Trading Down 3.5%

Shares of API stock opened at $4.10 on Friday. Agora has a 52-week low of $3.14 and a 52-week high of $5.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.58 and a current ratio of 4.58. The company has a 50-day simple moving average of $3.75 and a two-hundred day simple moving average of $3.98. The company has a market capitalization of $358.01 million, a price-to-earnings ratio of 41.00 and a beta of 0.73.

Agora (NASDAQ:API) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.18. The business had revenue of $37.75 million during the quarter, compared to the consensus estimate of $37.01 million. Agora had a net margin of 7.03% and a return on equity of 1.81%. Research analysts anticipate that Agora will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Agora

Hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund bought a new stake in shares of Agora during the 3rd quarter worth $58,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Agora during the 4th quarter worth $85,000. Finally, Marshall Wace LLP raised its stake in shares of Agora by 213.0% during the 2nd 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 period. 40.40% of the stock is currently owned by institutional investors.

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.