Agora (NASDAQ:API) Upgraded at Wall Street Zen

Agora (NASDAQ:API - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Separately, 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 given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Agora currently has an average rating of "Hold".

Agora Trading Up 7.5%

Shares of Agora stock opened at $4.46 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.70 and a quick ratio of 6.70. The stock's 50 day simple moving average is $4.20 and its 200-day simple moving average is $4.10. The stock has a market cap of $389.45 million, a P/E ratio of 44.60 and a beta of 0.80. Agora has a 1-year low of $3.14 and a 1-year high of $5.49.

Agora (NASDAQ:API - Get Free Report) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.18. The firm had revenue of $37.74 million during 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%. Analysts predict that Agora will post 0.15 EPS for the current fiscal year.

Agora announced that its board has authorized a stock repurchase plan on Monday, June 1st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of Agora

Several institutional investors have recently made changes to their positions in API. Police & Firemen s Retirement System of New Jersey purchased a new position in Agora in the fourth quarter worth approximately $85,000. New York State Common Retirement Fund raised its position in Agora by 78.6% in the fourth quarter. New York State Common Retirement Fund now owns 27,223 shares of the company's stock valued at $111,000 after purchasing an additional 11,980 shares during the period. Finally, Marshall Wace LLP raised 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 purchasing an additional 313,175 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source