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

Wall Street Zen cut shares of Agora (NASDAQ:API) from a buy rating to a hold rating in a research report report published on Saturday.

Separately, Bank of America reaffirmed a “buy” rating on shares of Agora in a research note on Wednesday, May 27th. One equities 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, the company presently has a consensus rating of “Hold”.

Agora Stock Down 1.0%

NASDAQ API opened at $3.85 on Friday. The stock’s 50 day simple moving average is $4.16 and its 200 day simple moving average is $4.12. Agora has a one year low of $3.14 and a one year high of $5.49. The firm has a market cap of $336.18 million, a PE ratio of 38.50 and a beta of 0.78. 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:API) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.18. The firm had revenue of $37.74 million during the quarter, compared to the consensus estimate of $37.01 million. Agora had a return on equity of 1.82% and a net margin of 7.03%. As a group, sell-side analysts forecast that Agora will post 0.15 earnings per share for the current fiscal year.

Agora announced that its board has authorized a share buyback program on Monday, June 1st that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Agora

A number of institutional investors have recently made changes to their positions in API. New York State Common Retirement Fund raised its holdings in shares of Agora by 78.6% during the fourth quarter. New York State Common Retirement Fund now owns 27,223 shares of the company’s stock worth $111,000 after acquiring an additional 11,980 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in Agora in the 4th quarter worth $85,000. Finally, Marshall Wace LLP increased its holdings in Agora by 213.0% during the 2nd quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock worth $1,753,000 after purchasing an additional 313,175 shares in the last quarter. 40.40% of the stock is owned by institutional investors and hedge funds.

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.