Agora (NASDAQ:API) Stock Rating Lowered by Zacks Research

Agora (NASDAQ:API) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Agora in a report on Wednesday, January 21st. Wall Street Zen cut shares of Agora from a “buy” rating to a “hold” rating in a research note on Sunday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Agora has a consensus rating of “Reduce”.

Agora Price Performance

Shares of NASDAQ:API opened at $4.18 on Monday. The company has a current ratio of 4.58, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14. Agora has a 1 year low of $2.53 and a 1 year high of $5.71. The business has a fifty day simple moving average of $4.43 and a 200 day simple moving average of $3.93. The firm has a market cap of $390.12 million, a price-to-earnings ratio of 46.45 and a beta of 0.60.

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

Hedge Funds Weigh In On Agora

Several large investors have recently made changes to their positions in the business. Marshall Wace LLP boosted its stake in Agora by 213.0% during the 2nd 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. New York State Common Retirement Fund bought a new position in Agora in the 3rd quarter worth approximately $58,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Agora in the 4th quarter worth approximately $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.