Agora (NASDAQ:API) Announces Quarterly Earnings Results

Key Points

• Agora beat earnings expectations, reporting quarterly EPS of $0.02 versus analysts’ consensus estimate of a $0.20 loss. The company posted a 7.03% net margin and 1.82% return on equity.
• Agora shares rose 7.8% to $4.83 in mid-day trading, though the stock remains below its 12-month high of $5.49.
• Institutional ownership stands at 40.40%, with several investors increasing their positions. Analyst sentiment remains mixed, resulting in an overall “Hold” rating despite recent Buy recommendations.

Agora (NASDAQ:API - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.22, Zacks reports. Agora had a net margin of 7.03% and a return on equity of 1.82%.

Agora Stock Up 7.8%

Shares of API traded up $0.35 during mid-day trading on Thursday, hitting $4.83. 346,174 shares of the company's stock were exchanged, compared to its average volume of 417,817. The stock has a market cap of $421.76 million, a price-to-earnings ratio of 48.30 and a beta of 0.80. The firm has a fifty day moving average of $4.18 and a two-hundred day moving average 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 has a twelve month low of $3.14 and a twelve month high of $5.49.

Institutional Investors Weigh In On Agora

Large investors have recently bought and sold shares of the business. Marshall Wace LLP increased its position 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 last quarter. New York State Common Retirement Fund lifted its position in shares of Agora by 78.6% in the fourth quarter. New York State Common Retirement Fund now owns 27,223 shares of the company's stock worth $111,000 after buying an additional 11,980 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Agora in the fourth quarter worth about $85,000. 40.40% of the stock is currently owned by institutional investors.

Agora declared that its Board of Directors has approved a stock buyback program on Monday, June 1st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen upgraded Agora from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Bank of America reiterated a "buy" rating on shares of Agora in a report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Agora has an average rating of "Hold".

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.

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