Agora (NASDAQ:API) Announces Earnings Results

by · The Cerbat Gem

Agora (NASDAQ:API – Get Free Report) issued its earnings results on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.18, Zacks reports. Agora had a net margin of 6.75% and a return on equity of 1.68%.

Agora Stock Up 3.6%

API traded up $0.13 during trading on Tuesday, reaching $3.77. 1,044,762 shares of the stock traded hands, compared to its average volume of 401,628. Agora has a fifty-two week low of $3.14 and a fifty-two week high of $5.15. The stock’s 50-day simple moving average is $3.73 and its two-hundred day simple moving average is $3.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.58 and a quick ratio of 4.58. The stock has a market cap of $329.20 million, a price-to-earnings ratio of 41.89 and a beta of 0.73.

Institutional Trading of Agora

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Agora in the fourth quarter worth $85,000. New York State Common Retirement Fund raised its holdings in Agora by 78.6% in the 4th 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. Finally, Marshall Wace LLP lifted its position 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.

Analysts Set New Price Targets

A number of research firms recently weighed in on API. Zacks Research lowered Agora from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Wall Street Zen raised Agora from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Agora currently has an average rating of “Reduce”.

Get Our Latest Analysis on Agora

About Agora

(Get Free Report)

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.

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