JP Morgan lifts Agora Inc. [API] price estimate. Who else is bullish?


Agora Inc. [NASDAQ: API] gained 47.24% or 3.34 points to close at $10.41 with a heavy trading volume of 3806402 shares. The company report on February 24, 2022 that Agora to Showcase Real-Time Future of Work at MWC’s Four Years From Now Event in Barcelona.

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The leading voice, video and live broadcasting platform will feature its high-definition, ultra-low latency real-time engagement solutions.

Agora, Inc. (NASDAQ: API), a pioneer and leading platform for real-time engagement APIs, returns to the GSMA’s leading start-up and innovation platform, 4YFN (Four Years From Now). 4YFN is the world’s largest exhibition for the mobile industry, with a mission to support startups, investors and companies to connect and launch new business ventures together.

It opened the trading session at $8.40, the shares rose to $10.44 and dropped to $8.22, the range by which the price of stock traded the whole day. The daily chart for API points out that the company has recorded -64.56% loss over the past six months. However, it is still -65.24% lower than its most recent low trading price.

If we look at the average trading volume of 1.38M shares, API reached to a volume of 3806402 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Agora Inc. [API]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for API shares is $26.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on API stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Agora Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 18, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on October 22, 2021, representing the official price target for Agora Inc. stock. Previously, the target price had yet another raise to $70, while Nomura analysts kept a Buy rating on API stock.

The Average True Range (ATR) for Agora Inc. is set at 1.28, with the Price to Sales ratio for API stock in the period of the last 12 months amounting to 7.50. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 6.52.

Trading performance analysis for API stock

Agora Inc. [API] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.47. With this latest performance, API shares dropped by -3.07% in over the last four-week period, additionally sinking by -64.56% over the last 6 months – not to mention a drop of -82.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for API stock in for the last two-week period is set at 50.45, with the RSI for the last a single of trading hit 53.69, and the three-weeks RSI is set at 48.01 for Agora Inc. [API]. The present Moving Average for the last 50 days of trading for this stock 11.23, while it was recorded at 8.48 for the last single week of trading, and 24.33 for the last 200 days.

Agora Inc. [API]: A deeper dive into fundamental analysis

Agora Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.80 and a Current Ratio set at 10.80.

An analysis of insider ownership at Agora Inc. [API]

There are presently around $372 million, or 58.00% of API stock, in the hands of institutional investors. The top three institutional holders of API stocks are: SUSQUEHANNA INTERNATIONAL GROUP, LLP with ownership of 8,189,697, which is approximately 0.017% of the company’s market cap and around 0.14% of the total institutional ownership; MORGAN STANLEY, holding 4,821,357 shares of the stock with an approximate value of $34.09 million in API stocks shares; and JPMORGAN CHASE & CO, currently with $20.53 million in API stock with ownership of nearly 158.218% of the company’s market capitalization.

64 institutional holders increased their position in Agora Inc. [NASDAQ:API] by around 15,331,942 shares. Additionally, 49 investors decreased positions by around 16,345,207 shares, while 21 investors held positions by with 20,906,688 shares. The mentioned changes placed institutional holdings at 52,583,837 shares, according to the latest SEC report filing. API stock had 26 new institutional investments in for a total of 7,134,811 shares, while 22 institutional investors sold positions of 3,954,556 shares during the same period.