Agora (NASDAQ:API) Board Approves Stock Buyback Plan

Agora (NASDAQ:API) declared that its Board of Directors has approved a share repurchase program on Monday, June 1st, RTT News reports. The company plans to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Agora Stock Performance

API traded up $0.65 on Monday, reaching $4.75. 1,673,236 shares of the stock were exchanged, compared to its average volume of 483,033. The company’s 50-day moving average price is $3.78 and its 200 day moving average price is $3.99. Agora has a fifty-two week low of $3.14 and a fifty-two week high of $5.15. 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 firm has a market capitalization of $414.77 million, a PE ratio of 47.50 and a beta of 0.77.

Agora (NASDAQ:API) 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. Agora had a net margin of 7.03% and a return on equity of 1.82%. The company had revenue of $37.75 million for the quarter, compared to analyst estimates of $37.01 million. As a group, sell-side analysts forecast that Agora will post 0.15 EPS for the current fiscal year.

Analyst Ratings Changes

API has been the subject of a number of recent research reports. Bank of America reissued a “buy” rating on shares of Agora in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Agora from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research downgraded shares of Agora from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company 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.