Agora (NASDAQ:API) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Agora (NASDAQ:API) from a hold rating to a buy rating in a report issued on Saturday morning.

Separately, Bank of America reissued a “buy” rating on shares of Agora in a report on Wednesday, May 27th. One equities 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Agora Stock Up 2.5%

Shares of NASDAQ API opened at $4.57 on Friday. The stock has a market capitalization of $399.05 million, a price-to-earnings ratio of 45.70 and a beta of 0.80. Agora has a 52 week low of $3.14 and a 52 week high of $5.49. The firm has a 50-day moving average price of $4.20 and a 200 day moving average price of $4.10. The company has a quick ratio of 6.70, a current ratio of 6.70 and a debt-to-equity ratio of 0.16.

Agora (NASDAQ:API) last issued its earnings results on Tuesday, May 26th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.18. Agora had a net margin of 7.03% and a return on equity of 1.82%. The company had revenue of $37.74 million for the quarter, compared to analyst estimates of $37.01 million. Equities research analysts anticipate that Agora will post 0.15 EPS for the current fiscal year.

Agora declared that its board has authorized a share buyback program on Monday, June 1st that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Agora

A number of institutional investors have recently modified their holdings of API. Marshall Wace LLP increased its stake in shares of 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 acquiring an additional 313,175 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Agora in the fourth quarter worth approximately $85,000. Finally, New York State Common Retirement Fund grew its holdings in Agora by 78.6% in the fourth 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 period. Institutional investors and hedge funds 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.