Agora (NASDAQ:API) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Agora (NASDAQ:API) from a "hold" to a buy, but MarketBeat's average rating remains "Reduce" with other firms issuing Hold and Sell opinions.
• Agora reported $0.05 EPS and $38.16M in quarterly revenue, trades near $3.66 with a market cap of about $341.6M and a P/E of 40.7, while analysts forecast -0.4 EPS for the current fiscal year.
• Hedge funds are active in the name—Marshall Wace boosted its stake by 213%—and institutional investors own roughly 40.4% of Agora's shares.

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

API has been the topic of several other reports. Zacks Research cut shares of Agora from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Agora in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Agora presently has an average rating of "Reduce".

Agora Stock Performance

API opened at $3.66 on Friday. The company has a market capitalization of $341.59 million, a price-to-earnings ratio of 40.67 and a beta of 0.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.58 and a quick ratio of 4.34. Agora has a 1-year low of $2.53 and a 1-year high of $5.15. The business has a 50 day moving average price of $4.17 and a two-hundred day moving average price of $3.94.

Agora (NASDAQ:API - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.05 earnings per share (EPS) for the quarter. Agora had a return on equity of 1.68% and a net margin of 6.75%.The company had revenue of $38.16 million for the quarter. Research analysts predict that Agora will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Agora

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in API. Marshall Wace LLP grew its position in Agora by 213.0% during the 2nd quarter. Marshall Wace LLP now owns 460,210 shares of the company's stock worth $1,753,000 after purchasing an additional 313,175 shares in the last quarter. New York State Common Retirement Fund boosted 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 period. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Agora in the fourth quarter worth $85,000. Institutional investors and hedge funds 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.

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