Agora (NASDAQ:API) Cut to “Hold” at Zacks Research

Agora (NASDAQ:API) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on API. Wall Street Zen cut Agora from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Agora in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Agora Price Performance

NASDAQ:API opened at $4.18 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.58 and a quick ratio of 4.34. The company has a 50 day moving average price of $4.43 and a 200-day moving average price of $3.93. Agora has a 1-year low of $2.53 and a 1-year high of $5.71. The firm has a market cap of $390.12 million, a price-to-earnings ratio of 46.45 and a beta of 0.60.

Agora (NASDAQ:API) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.05 earnings per share (EPS) for the quarter. Agora had a net margin of 6.75% and a return on equity of 1.68%. The firm had revenue of $38.16 million for the quarter. Equities research analysts forecast that Agora will post -0.4 EPS for the current year.

Institutional Trading of Agora

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund acquired a new stake in Agora during the third quarter worth about $58,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Agora in the fourth quarter valued at about $85,000. Finally, Marshall Wace LLP boosted its stake in Agora by 213.0% during the second quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock worth $1,753,000 after buying an additional 313,175 shares during the period. 40.40% of the stock is owned by institutional investors and hedge funds.

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.