Agora (NASDAQ:API) Releases Earnings Results, Misses Expectations By $0.05 EPS

Agora (NASDAQ:API – Get Rating) announced its quarterly earnings results on Monday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05), MarketWatch Earnings reports. Agora had a negative net margin of 43.07% and a negative return on equity of 8.20%. During the same quarter in the previous year, the firm earned ($0.14) EPS. Agora updated its FY 2022 guidance to EPS.

Shares of NASDAQ:API traded down $0.03 on Wednesday, hitting $5.35. The company had a trading volume of 3,831 shares, compared to its average volume of 1,234,206. The firm’s 50-day simple moving average is $8.26 and its two-hundred day simple moving average is $12.57. Agora has a 1 year low of $5.31 and a 1 year high of $49.32. The firm has a market capitalization of $566.41 million, a price-to-earnings ratio of -8.11 and a beta of 0.50.

Several analysts have issued reports on the stock. Nomura upgraded shares of Agora from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $11.00 to $10.00 in a research note on Monday, May 16th. JPMorgan Chase & Co. cut shares of Agora from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $31.00 to $11.00 in a research report on Friday, February 18th. Sanford C. Bernstein began coverage on shares of Agora in a research report on Thursday, May 5th. They set an “outperform” rating and a $10.00 price objective on the stock. Zacks Investment Research cut shares of Agora from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. Finally, Morgan Stanley upgraded shares of Agora from an “equal weight” rating to an “overweight” rating and set a $12.50 price objective on the stock in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Agora presently has a consensus rating of “Buy” and an average price target of $15.93.

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Agora by 52.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,811,357 shares of the company’s stock worth $37,885,000 after purchasing an additional 1,309,170 shares during the period. Engineers Gate Manager LP purchased a new position in Agora during the 1st quarter valued at about $179,000. Invesco Ltd. lifted its position in Agora by 41.6% during the 1st quarter. Invesco Ltd. now owns 80,589 shares of the company’s stock valued at $801,000 after acquiring an additional 23,667 shares during the period. Renaissance Technologies LLC lifted its position in Agora by 88.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,112,100 shares of the company’s stock valued at $11,054,000 after acquiring an additional 522,904 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Agora during the 1st quarter valued at about $2,827,000.

Agora Company Profile (Get Rating)

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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