Agora (NASDAQ:API) Lowered to Hold Rating by Wall Street Zen

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

Separately, Bank of America reiterated a “buy” rating on shares of Agora in a report on Wednesday, May 27th. One 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 company. According to data from MarketBeat.com, Agora has an average rating of “Hold”.

Agora Price Performance

API opened at $3.85 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.70 and a quick ratio of 6.70. Agora has a 1 year low of $3.14 and a 1 year high of $5.49. The stock’s 50 day simple moving average is $4.16 and its 200 day simple moving average is $4.12. The firm has a market cap of $336.17 million, a price-to-earnings ratio of 38.50 and a beta of 0.78.

Agora (NASDAQ:API) last released its quarterly earnings data on Tuesday, May 26th. The company reported $0.01 earnings per share for the quarter, beating 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 predict that Agora will post 0.15 earnings per share for the current year.

Agora declared that its Board of Directors has approved a stock buyback program on Monday, June 1st that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Agora

Several institutional investors and hedge funds have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Agora during the 4th quarter valued at about $85,000. New York State Common Retirement Fund raised its stake in 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 buying an additional 11,980 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Agora by 213.0% in the second quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock worth $1,753,000 after buying an additional 313,175 shares during the period. 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.