Agora (NASDAQ:API) Announces Quarterly Earnings Results

Agora (NASDAQ:API – Get Rating) posted its quarterly earnings data on Monday. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05), MarketWatch Earnings reports. Agora had a negative net margin of 43.07% and a negative return on equity of 8.20%. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Agora updated its FY 2022 guidance to EPS.

NASDAQ API opened at $6.70 on Tuesday. Agora has a 1-year low of $5.62 and a 1-year high of $49.32. The firm’s fifty day simple moving average is $8.36 and its 200-day simple moving average is $12.62. The company has a market capitalization of $709.34 million, a PE ratio of -10.15 and a beta of 0.50.

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Agora by 397.1% in the 2nd quarter. Royal Bank of Canada now owns 2,595 shares of the company’s stock valued at $110,000 after buying an additional 2,073 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Agora during the first quarter valued at about $179,000. Toroso Investments LLC acquired a new stake in shares of Agora in the fourth quarter valued at about $234,000. Squarepoint Ops LLC bought a new position in shares of Agora in the fourth quarter worth about $317,000. Finally, Invesco Ltd. lifted its position in shares of Agora by 41.6% during the 1st quarter. Invesco Ltd. now owns 80,589 shares of the company’s stock worth $801,000 after purchasing an additional 23,667 shares during the last quarter.

Several analysts have recently weighed in on the company. Zacks Investment Research lowered Agora from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. Morgan Stanley raised shares of Agora from an “equal weight” rating to an “overweight” rating and set a $12.50 price objective on the stock in a research note on Monday, May 2nd. Sanford C. Bernstein assumed coverage on shares of Agora in a research note on Thursday, May 5th. They set an “outperform” rating and a $10.00 target price for the company. JPMorgan Chase & Co. lowered shares of Agora from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $31.00 to $11.00 in a research report on Friday, February 18th. Finally, Nomura raised Agora from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $11.00 to $10.00 in a research note on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $15.93.

About Agora (Get Rating)

Agora, Inc provides Real-Time Engagement Platform-as-a-Service (RTE-PaaS) in the People's Republic of China, the United States, and internationally. Its RTE-PaaS offers developers with software tools to embed real-time video, voice, and messaging functionalities into applications. The company's enterprise-grade products include Real-Time Video, Real-Time Voice, Live Interactive Video and Audio Streaming, Real-Time Messaging, Real-Time Recording, Real-Time Streaming Acceleration, Agora Analytics, and various use case products that serves as building blocks for developers to embed the respective functions in applications.

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