Agora (NASDAQ:API) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Agora (NASDAQ:API) released its earnings results on Tuesday. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.18, Zacks reports. Agora had a return on equity of 1.68% and a net margin of 6.75%.

Agora Stock Up 3.6%

Shares of Agora stock traded up $0.13 during trading on Tuesday, hitting $3.77. 1,044,762 shares of the stock traded hands, compared to its average volume of 401,628. The firm has a market cap of $329.20 million, a P/E ratio of 41.89 and a beta of 0.73. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 0.14. Agora has a 52-week low of $3.14 and a 52-week high of $5.15. The stock’s fifty day simple moving average is $3.73 and its 200 day simple moving average is $3.97.

Analyst Ratings Changes

API has been the subject of several research analyst reports. Zacks Research downgraded Agora from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen upgraded Agora from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Agora has an average rating of “Reduce”.

Hedge Funds Weigh In On Agora

Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund increased its stake 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 valued at $111,000 after buying an additional 11,980 shares during the period. Marshall Wace LLP grew its stake in Agora by 213.0% in the second 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 last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in Agora in the fourth quarter valued at about $85,000. Hedge funds and other institutional investors own 40.40% of the company’s stock.

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.