Agora (NASDAQ:API) Rating Increased to Buy at Wall Street Zen

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

Separately, Bank of America reissued a “buy” rating on shares of Agora in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Agora Trading Up 7.5%

Shares of API opened at $4.46 on Friday. Agora has a fifty-two week low of $3.14 and a fifty-two week high of $5.49. The company has a market capitalization of $389.43 million, a PE ratio of 44.60 and a beta of 0.80. The stock has a fifty day moving average of $4.20 and a two-hundred day moving average of $4.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.70 and a current ratio of 6.70.

Agora (NASDAQ:API) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.18. The business had revenue of $37.74 million for the quarter, compared to analysts’ expectations of $37.01 million. Agora had a return on equity of 1.82% and a net margin of 7.03%. As a group, analysts forecast that Agora will post 0.15 EPS for the current year.

Agora declared that its Board of Directors has authorized a stock repurchase program on Monday, June 1st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its stake 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 acquiring an additional 313,175 shares during the last quarter. New York State Common Retirement Fund raised its holdings 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 purchasing an additional 11,980 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Agora in the 4th quarter valued at about $85,000. 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.