Agora, Inc. (NASDAQ:API) Given Average Recommendation of “Buy” by Analysts

Agora, Inc. (NASDAQ:API) has received an average recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $47.50.

Several analysts have commented on API shares. Needham & Company LLC lowered their price objective on shares of Agora from $40.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. started coverage on shares of Agora in a report on Friday, October 22nd. They issued an “overweight” rating and a $33.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Agora from a “sell” rating to a “hold” rating in a report on Thursday, November 18th.

Several hedge funds and other institutional investors have recently made changes to their positions in API. US Bancorp DE bought a new position in shares of Agora during the third quarter valued at approximately $35,000. Royal Bank of Canada increased its stake in shares of Agora by 397.1% during the second quarter. Royal Bank of Canada now owns 2,595 shares of the company’s stock valued at $110,000 after purchasing an additional 2,073 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Agora during the second quarter valued at approximately $130,000. Montanaro Asset Management Ltd bought a new position in shares of Agora during the second quarter valued at approximately $136,000. Finally, Ensign Peak Advisors Inc bought a new position in shares of Agora during the second quarter valued at approximately $153,000. 49.55% of the stock is owned by institutional investors and hedge funds.

Agora stock opened at $20.43 on Friday. The firm has a 50-day moving average of $25.75 and a 200-day moving average of $32.48. The firm has a market cap of $2.16 billion, a P/E ratio of -38.55 and a beta of -0.17. Agora has a 1-year low of $19.88 and a 1-year high of $114.96.

Agora (NASDAQ:API) last posted its earnings results on Monday, November 15th. The company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.05). The firm had revenue of $45.04 million for the quarter, compared to analysts’ expectations of $40.64 million. Agora had a negative return on equity of 6.91% and a negative net margin of 35.66%. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Sell-side analysts anticipate that Agora will post -0.6 earnings per share for the current year.

Agora Company Profile

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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Analyst Recommendations for Agora (NASDAQ:API)

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