Agora, Inc. (NASDAQ:API) has been assigned a consensus recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $47.50.
API has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Agora from a “sell” rating to a “hold” rating in a report on Thursday, November 18th. Needham & Company LLC reduced their target price on shares of Agora from $40.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Agora in a report on Friday, October 22nd. They issued an “overweight” rating and a $33.00 target price on the stock.
Shares of API stock opened at $20.43 on Friday. The stock has a market cap of $2.16 billion, a P/E ratio of -38.55 and a beta of -0.17. Agora has a 52 week low of $19.88 and a 52 week high of $114.96. The company’s fifty day simple moving average is $25.75 and its two-hundred day simple moving average is $32.48.
A number of large investors have recently modified their holdings of API. US Bancorp DE bought a new position in Agora during the 3rd quarter valued at about $35,000. Royal Bank of Canada grew its holdings in Agora by 397.1% during the 2nd quarter. Royal Bank of Canada now owns 2,595 shares of the company’s stock valued at $110,000 after purchasing an additional 2,073 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Agora during the 2nd quarter valued at about $130,000. Montanaro Asset Management Ltd bought a new position in Agora during the 2nd quarter valued at about $136,000. Finally, Ensign Peak Advisors Inc bought a new position in Agora during the 2nd quarter valued at about $153,000. Institutional investors own 49.55% of the company’s stock.
Agora Company Profile
Agora, Inc provides Real-Time Engagement Platform-as-a-Service (RTE-PaaS) in the People's Republic of China, the United States, and internationally. Its RTE-PaaS offers developers with software tools to embed real-time video, voice, and messaging functionalities into applications. The company's enterprise-grade products include Real-Time Video, Real-Time Voice, Live Interactive Video and Audio Streaming, Real-Time Messaging, Real-Time Recording, Real-Time Streaming Acceleration, Agora Analytics, and various use case products that serves as building blocks for developers to embed the respective functions in applications.
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