Agora (NASDAQ:API) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Agora (NASDAQ:API) announced its quarterly earnings data on Monday. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03), Yahoo Finance reports. Agora had a negative return on equity of 13.09% and a negative net margin of 57.83%. The company had revenue of $34.21 million for the quarter, compared to analysts’ expectations of $34.46 million. During the same quarter in the previous year, the company earned ($0.45) earnings per share.

Agora Stock Down 6.8 %

Shares of NASDAQ:API opened at $2.18 on Wednesday. The company has a quick ratio of 7.84, a current ratio of 7.84 and a debt-to-equity ratio of 0.03. Agora has a 52-week low of $2.03 and a 52-week high of $3.35. The company has a 50 day moving average of $2.35 and a two-hundred day moving average of $2.53. The company has a market capitalization of $201.00 million, a price-to-earnings ratio of -2.69 and a beta of 0.01.

Analyst Ratings Changes

Separately, Bank of America downgraded shares of Agora from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $4.00 to $2.63 in a research report on Tuesday.

About Agora

Agora, Inc operates in real-time engagement technology business in the People's Republic of China, the United States, and internationally. The company offers real-time engagement platform-as-a-services providing developers with application programming interfaces to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications.