Agora (NASDAQ:API) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Agora (NASDAQ:API) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Several other brokerages have also issued reports on API. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Agora in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Agora from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Agora Trading Down 2.6%

Shares of API stock opened at $4.56 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.34 and a current ratio of 4.34. The company has a market capitalization of $425.58 million, a price-to-earnings ratio of 50.67, a PEG ratio of 0.86 and a beta of 0.60. Agora has a 52-week low of $2.53 and a 52-week high of $5.71. The company has a 50-day simple moving average of $4.39 and a two-hundred day simple moving average of $3.91.

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

Institutional Investors Weigh In On Agora

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its holdings in Agora by 213.0% during 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. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Agora in the fourth quarter valued at approximately $85,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Agora during the 3rd quarter valued at approximately $58,000. 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.