Agora (NASDAQ:API) Raised to “Buy” at Wall Street Zen
by Danessa Lincoln · The Markets DailyAgora (NASDAQ:API – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.
Separately, Bank of America reaffirmed a “buy” rating on shares of Agora in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.
Read Our Latest Analysis on API
Agora Stock Performance
NASDAQ API opened at $4.46 on Friday. The company has a market cap of $389.45 million, a price-to-earnings ratio of 44.60 and a beta of 0.80. Agora has a twelve month low of $3.14 and a twelve month high of $5.49. 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’s fifty day moving average is $4.20 and its 200 day moving average is $4.10.
Agora (NASDAQ:API – Get Free Report) last issued its earnings results on Tuesday, May 26th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.18. Agora had a return on equity of 1.82% and a net margin of 7.03%.The business had revenue of $37.74 million during the quarter, compared to analysts’ expectations of $37.01 million. As a group, sell-side analysts expect that Agora will post 0.15 EPS for the current fiscal year.
Agora announced that its board has authorized a stock repurchase plan on Monday, June 1st that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Hedge Funds Weigh In On Agora
Institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in Agora in the 4th quarter valued at $85,000. New York State Common Retirement Fund lifted its stake in Agora by 78.6% during the 4th quarter. New York State Common Retirement Fund now owns 27,223 shares of the company’s stock valued at $111,000 after acquiring an additional 11,980 shares in the last quarter. Finally, Marshall Wace LLP boosted 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 acquiring an additional 313,175 shares during the last quarter. Institutional investors and hedge funds 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.