Agora (NASDAQ:API) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Agora (NASDAQ:API) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Several other equities research analysts have also commented on API. Wall Street Zen lowered shares of Agora from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Agora in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

Agora Stock Performance

NASDAQ API opened at $3.99 on Monday. The business has a 50 day moving average price of $4.42 and a 200 day moving average price of $3.94. The company has a market capitalization of $372.40 million, a P/E ratio of 44.34 and a beta of 0.60. Agora has a 1-year low of $2.53 and a 1-year high of $5.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.58 and a quick ratio of 4.34.

Agora (NASDAQ:API) last posted its earnings results on Tuesday, March 3rd. The company reported $0.05 EPS for the quarter. Agora had a return on equity of 1.68% and a net margin of 6.75%.The company had revenue of $38.16 million for the quarter. Sell-side analysts expect that Agora will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its stake 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. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Agora during the fourth quarter worth about $85,000. Finally, Marshall Wace LLP raised its position in shares of Agora by 213.0% in 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. Institutional investors and hedge funds own 40.40% of the company’s stock.

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.