Agora (NASDAQ:API) Issues Earnings Results

Agora (NASDAQ:API) announced its quarterly earnings results on Thursday. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.22, Zacks reports. Agora had a return on equity of 1.82% and a net margin of 7.03%.

Agora Stock Performance

NASDAQ:API traded up $0.35 during mid-day trading on Thursday, hitting $4.83. 346,174 shares of the company’s stock traded hands, compared to its average volume of 417,817. The company has a current ratio of 6.70, a quick ratio of 6.70 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $4.18 and a two-hundred day moving average of $4.10. The firm has a market capitalization of $421.76 million, a price-to-earnings ratio of 48.30 and a beta of 0.80. Agora has a 12 month low of $3.14 and a 12 month high of $5.49.

Institutional Investors Weigh In On Agora

Hedge funds have recently modified their holdings of the business. 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 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 purchasing an additional 11,980 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Agora by 213.0% during the 2nd 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. 40.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

API has been the subject of a number of analyst reports. Bank of America restated a “buy” rating on shares of Agora in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Agora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Agora announced that its Board of Directors has authorized a stock repurchase plan on Monday, June 1st that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.