Agora (NASDAQ:API) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Agora (NASDAQ:APIFree Report) from a buy rating to a hold rating in a research note released on Sunday morning.

Separately, Bank of America raised their price objective on Agora from $6.60 to $6.80 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.80.

View Our Latest Analysis on API

Agora Price Performance

Shares of Agora stock opened at $4.64 on Friday. The business has a 50 day simple moving average of $4.17 and a two-hundred day simple moving average of $4.10. Agora has a 12 month low of $3.14 and a 12 month high of $5.49. The stock has a market capitalization of $405.16 million, a P/E ratio of 42.19 and a beta of 0.80. 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 (NASDAQ:APIGet Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.22. Agora had a return on equity of 1.95% and a net margin of 7.23%.The firm had revenue of $40.42 million for the quarter, compared to analyst estimates of $40.44 million. As a group, analysts predict that Agora will post 0.14 EPS for the current fiscal year.

Agora declared that its Board of Directors has approved a share buyback program on Monday, June 1st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Agora

Several large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its stake in shares of Agora by 213.0% in the 2nd quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock valued at $1,753,000 after purchasing an additional 313,175 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Agora during the 4th quarter worth about $85,000. Finally, New York State Common Retirement Fund increased its position in shares of Agora by 78.6% during the 4th 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. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

About Agora

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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.

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