Agora (NASDAQ:API) Trading Up 0.5% – Still a Buy?

Shares of Agora, Inc. Sponsored ADR (NASDAQ:API) traded up 0.5% during trading on Monday . The company traded as high as $4.20 and last traded at $4.17. 468,902 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 665,003 shares. The stock had previously closed at $4.15.

Analysts Set New Price Targets

A number of equities analysts have recently commented on API shares. Bank of America reaffirmed a “buy” rating on shares of Agora in a research report on Wednesday, May 27th. Zacks Research lowered Agora from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Wall Street Zen cut Agora from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Agora has a consensus rating of “Hold”.

Agora Trading Down 3.3%

The company has a quick ratio of 6.70, a current ratio of 6.70 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $4.06 and its two-hundred day moving average is $4.10. The company has a market capitalization of $359.76 million, a PE ratio of 41.20 and a beta of 0.78.

Agora (NASDAQ:API) last posted its earnings results on Tuesday, May 26th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.18. Agora had a net margin of 7.03% and a return on equity of 1.82%. The business had revenue of $37.74 million for the quarter, compared to the consensus estimate of $37.01 million. As a group, sell-side analysts predict that Agora, Inc. Sponsored ADR will post 0.15 EPS for the current fiscal year.

Agora declared that its board has initiated a share buyback plan on Monday, June 1st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Agora

Large investors have recently bought and sold shares of the business. 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 worth $1,753,000 after buying an additional 313,175 shares during the period. New York State Common Retirement Fund raised its position in shares of Agora by 78.6% in the 4th quarter. New York State Common Retirement Fund now owns 27,223 shares of the company’s stock worth $111,000 after acquiring an additional 11,980 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Agora during the 4th quarter worth $85,000. Institutional investors 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.