Agora (NASDAQ:API) Shares Gap Down to $7.16

Agora, Inc. (NASDAQ:APIGet Rating) shares gapped down before the market opened on Wednesday . The stock had previously closed at $7.16, but opened at $6.81. Agora shares last traded at $7.02, with a volume of 1,247 shares.

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Agora in a research note on Thursday, May 5th. They set an “outperform” rating and a $10.00 price target for the company. Zacks Investment Research downgraded shares of Agora from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. JPMorgan Chase & Co. downgraded shares of Agora from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $31.00 to $11.00 in a research note on Friday, February 18th. Morgan Stanley raised shares of Agora from an “equal weight” rating to an “overweight” rating and set a $12.50 target price for the company in a research note on Monday, May 2nd. Finally, Nomura raised shares of Agora from a “neutral” rating to a “buy” rating and lowered their target price for the company from $11.00 to $10.00 in a research note on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Agora presently has an average rating of “Buy” and a consensus price target of $15.93.

The company’s 50-day moving average price is $8.45 and its 200-day moving average price is $13.13. The company has a market cap of $738.97 million, a P/E ratio of -10.85 and a beta of 0.50.

Agora (NASDAQ:APIGet Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Agora had a negative return on equity of 8.20% and a negative net margin of 43.07%. The company had revenue of $40.39 million for the quarter, compared to the consensus estimate of $36.76 million. During the same period in the prior year, the company earned ($0.06) EPS. On average, analysts predict that Agora, Inc. will post -0.67 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of API. Royal Bank of Canada increased its position in shares of Agora by 397.1% during the second quarter. Royal Bank of Canada now owns 2,595 shares of the company’s stock worth $110,000 after acquiring an additional 2,073 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in Agora during the third quarter worth $342,000. Goldman Sachs Group Inc. boosted its holdings in Agora by 27.9% during the third quarter. Goldman Sachs Group Inc. now owns 2,561,736 shares of the company’s stock worth $74,291,000 after purchasing an additional 558,286 shares during the last quarter. US Bancorp DE acquired a new position in Agora during the third quarter worth $35,000. Finally, Must Asset Management Inc. boosted its holdings in Agora by 209.9% during the third quarter. Must Asset Management Inc. now owns 736,612 shares of the company’s stock worth $20,161,000 after purchasing an additional 498,926 shares during the last quarter.

Agora Company Profile (NASDAQ:API)

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.

Further Reading

Receive News & Ratings for Agora Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agora and related companies with MarketBeat.com's FREE daily email newsletter.