Agora (NASDAQ:API) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Agora to “Hold” from “Buy,” while Bank of America raised its price target to $6.80 and maintained a “Buy” rating. The broader analyst consensus is “Hold,” with a $6.80 target price.
• Agora reported quarterly EPS of $0.02, beating expectations for a $0.20 loss, while revenue of $40.42 million was essentially in line with estimates. Analysts expect full-year EPS of $0.14.
• Shares opened at $4.64, compared with a 12-month range of $3.14 to $5.49, and institutional investors own 40.4% of the company. Marshall Wace increased its position by 213% in the second quarter.

Agora (NASDAQ:API - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

Separately, Bank of America lifted their target price on shares of Agora from $6.60 to $6.80 and gave the company a "buy" rating in a report on Friday. One 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. According to data from MarketBeat, Agora currently has a consensus rating of "Hold" and a consensus target price of $6.80.

Agora Price Performance

Shares of NASDAQ:API opened at $4.64 on Friday. The firm has a market capitalization of $405.16 million, a price-to-earnings ratio of 42.19 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.70 and a quick ratio of 6.70. Agora has a 12 month low of $3.14 and a 12 month high of $5.49. The business's 50 day simple moving average is $4.17 and its 200-day simple moving average is $4.11.

Agora (NASDAQ:API - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.22. Agora had a net margin of 7.23% and a return on equity of 1.95%. The company had revenue of $40.42 million during the quarter, compared to the consensus estimate of $40.44 million. As a group, equities analysts forecast that Agora will post 0.14 earnings per share for the current fiscal year.

Agora announced that its Board of Directors has approved a stock repurchase plan on Monday, June 1st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Agora

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP grew its position in Agora by 213.0% in the second 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 in the last quarter. New York State Common Retirement Fund lifted its position in shares of Agora by 78.6% during the fourth 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 in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Agora during the fourth quarter worth $85,000. Hedge funds and other 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.

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