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

Agora (NASDAQ:API) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Bank of America restated a “buy” rating on shares of Agora in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Agora Stock Performance

Shares of Agora stock opened at $3.85 on Friday. The firm has a market cap of $336.18 million, a P/E ratio of 38.50 and a beta of 0.78. The company has a current ratio of 6.70, a quick ratio of 6.70 and a debt-to-equity ratio of 0.16. Agora has a 12 month low of $3.14 and a 12 month high of $5.49. The stock’s fifty day moving average price is $4.16 and its 200-day moving average price is $4.12.

Agora (NASDAQ:API) last released its quarterly earnings data on Tuesday, May 26th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.18. Agora had a return on equity of 1.82% and a net margin of 7.03%.The firm had revenue of $37.74 million during the quarter, compared to the consensus estimate of $37.01 million. On average, equities research analysts expect that Agora will post 0.15 earnings per share for the current fiscal year.

Agora announced that its Board of Directors has authorized a share repurchase program on Monday, June 1st that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Agora

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its holdings in Agora by 213.0% in the second quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock worth $1,753,000 after purchasing an additional 313,175 shares in the last quarter. New York State Common Retirement Fund lifted its position 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 last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Agora in the 4th quarter valued at about $85,000. Hedge funds and other institutional investors 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.