Agora (NASDAQ:API) Upgraded at Wall Street Zen

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

A number of other research analysts have also recently commented on API. Bank of America reissued a “buy” rating on shares of Agora in a report on Wednesday, May 27th. Zacks Research lowered shares of Agora from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Agora presently has a consensus rating of “Hold”.

Agora Price Performance

NASDAQ:API opened at $4.01 on Friday. The business’s 50-day simple moving average is $4.09 and its two-hundred day simple moving average is $4.11. Agora has a 52 week low of $3.14 and a 52 week high of $5.49. The stock has a market cap of $350.15 million, a PE ratio of 40.10 and a beta of 0.78. 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 (NASDAQ:API) last released its quarterly earnings data on Tuesday, May 26th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.18. Agora had a return on equity of 1.82% and a net margin of 7.03%.The firm had revenue of $37.74 million during the quarter, compared to analyst estimates of $37.01 million. As a group, analysts forecast that Agora will post 0.15 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund increased its holdings 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 purchasing an additional 11,980 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in Agora during the fourth quarter valued at approximately $85,000. Finally, Marshall Wace LLP boosted its stake in Agora by 213.0% during the second quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock valued at $1,753,000 after buying an additional 313,175 shares during the last quarter. Hedge funds and other institutional investors 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.