Agora (NASDAQ:API) Shares Gap Up to $53.19


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Agora, Inc. (NASDAQ:API)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $53.19, but opened at $54.91. Agora shares last traded at $55.18, with a volume of 4,824 shares traded.

A number of brokerages have weighed in on API. Macquarie began coverage on Agora in a report on Tuesday, March 23rd. They set an “outperform” rating and a $80.00 price target for the company. China Renaissance Securities began coverage on Agora in a report on Tuesday, January 5th. They set a “buy” rating for the company. Zacks Investment Research upgraded Agora from a “sell” rating to a “hold” rating in a report on Wednesday, March 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $78.00 price target on shares of Agora in a report on Wednesday, February 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Agora presently has an average rating of “Buy” and a consensus target price of $58.33.

The company has a 50 day moving average price of $63.46 and a 200 day moving average price of $51.80.

Agora (NASDAQ:API) last issued its earnings results on Sunday, February 21st. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. The company had revenue of $33.30 million during the quarter, compared to the consensus estimate of $29.70 million. Agora had a return on equity of 0.28% and a net margin of 0.61%. Agora’s quarterly revenue was up 74.3% on a year-over-year basis. On average, equities research analysts forecast that Agora, Inc. will post 0.03 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of API. Sowell Financial Services LLC acquired a new stake in shares of Agora in the 4th quarter valued at about $40,000. Vident Investment Advisory LLC grew its stake in shares of Agora by 43.8% in the 4th quarter. Vident Investment Advisory LLC now owns 6,718 shares of the company’s stock valued at $266,000 after buying an additional 2,046 shares during the period. ExodusPoint Capital Management LP boosted its stake in Agora by 4.9% during the 4th quarter. ExodusPoint Capital Management LP now owns 10,481 shares of the company’s stock valued at $415,000 after purchasing an additional 490 shares during the last quarter. Paloma Partners Management Co acquired a new position in Agora during the 4th quarter valued at about $460,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Agora by 258.4% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,000 shares of the company’s stock valued at $509,000 after purchasing an additional 2,884 shares during the last quarter. Institutional investors own 17.07% of the company’s stock.

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, and various use case products that serves as building blocks for developers to embed the respective functions in applications.

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