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

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

Separately, Bank of America reiterated a “buy” rating on shares of Agora in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Agora Price Performance

Agora stock opened at $3.85 on Friday. The firm has a market capitalization of $336.17 million, a P/E ratio of 38.50 and a beta of 0.78. Agora has a one year low of $3.14 and a one year high of $5.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.70 and a quick ratio of 6.70. The business has a fifty day moving average price of $4.16 and a 200-day moving average price of $4.12.

Agora (NASDAQ:API) last released its quarterly earnings data on Tuesday, May 26th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.18. The company had revenue of $37.74 million for the quarter, compared to analyst estimates of $37.01 million. Agora had a return on equity of 1.82% and a net margin of 7.03%. As a group, equities research analysts forecast that Agora will post 0.15 EPS for the current year.

Agora announced that its board has authorized a stock repurchase plan on Monday, June 1st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Agora

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Agora in the 4th quarter worth approximately $85,000. New York State Common Retirement Fund boosted its stake in shares of Agora by 78.6% in the 4th quarter. New York State Common Retirement Fund now owns 27,223 shares of the company’s stock valued at $111,000 after purchasing an additional 11,980 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Agora by 213.0% during 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. 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.