Agora (NASDAQ:API) Cut to “Hold” at Wall Street Zen

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

Separately, Bank of America lifted their price target on Agora from $6.60 to $6.80 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.80.

Agora Stock Performance

API opened at $4.45 on Friday. The firm has a market cap of $388.57 million, a PE ratio of 40.46 and a beta of 0.80. The company has a quick ratio of 6.70, a current ratio of 6.70 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $4.17 and a 200-day simple moving average of $4.10. Agora has a fifty-two week low of $3.14 and a fifty-two week high of $5.49.

Agora (NASDAQ:API) last issued its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.22. The business had revenue of $40.42 million for the quarter, compared to analysts’ expectations of $40.44 million. Agora had a return on equity of 1.95% and a net margin of 7.23%. As a group, equities analysts predict that Agora will post 0.14 EPS for the current fiscal year.

Agora declared that its board has approved a share repurchase program on Monday, June 1st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Agora

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP raised its stake in 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 period. New York State Common Retirement Fund boosted its position in shares of Agora by 78.6% in the fourth quarter. New York State Common Retirement Fund now owns 27,223 shares of the company’s stock worth $111,000 after buying an additional 11,980 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Agora in the second quarter worth $101,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Agora during the fourth quarter valued at $85,000. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

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.