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.
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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