For Agora Inc. [API], Analyst sees a drop to $10. What next?

Agora Inc. [NASDAQ: API] stock went on an upward path that rose over 0.71% on Friday, amounting to a one-week price decrease of less than -1.40%. The company report on August 21, 2023 at 6:00 PM that Agora, Inc. Reports Second Quarter 2023 Financial Results.

“We continued to face a very challenging operating environment this quarter. The Agora business was impacted by the tightening financing conditions of certain customers, while the Shengwang business navigated a slowing economy and fast evolving regulations in certain downstream markets,” said Tony Zhao, founder, chairman and CEO of Agora, Inc. “In light of these challenges, we have taken steps to focus our resources on fewer projects with clear customer value, such as our high-definition video initiative, and target emerging use cases, such as vertical social networks. As a result, our non-GAAP net loss and operating cash outflow further narrowed this quarter, both sequentially and year-on-year. Separately, from when the board approved our share repurchase program in February 2022 to the end of June 2023, we have returned approximately $82.0 million to shareholders through share repurchases, demonstrating our commitment to safeguarding shareholder value and confidence in our long-term prospects.”.

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Over the last 12 months, API stock dropped by -31.88%. The one-year Agora Inc. stock forecast points to a potential upside of 48.16. The average equity rating for API stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $285.81 million, with 100.53 million shares outstanding and 80.45 million shares in the current float. Compared to the average trading volume of 340.55K shares, API stock reached a trading volume of 446090 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $5.44 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.

Nomura have made an estimate for Agora Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 16, 2022.

The Average True Range (ATR) for Agora Inc. is set at 0.15, with the Price to Sales ratio for API stock in the period of the last 12 months amounting to 1.89. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 2.01.

API Stock Performance Analysis:

Agora Inc. [API] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.40. With this latest performance, API shares dropped by -8.74% in over the last four-week period, additionally sinking by -16.81% over the last 6 months – not to mention a drop of -31.88% 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 42.98, with the RSI for the last a single of trading hit 42.63, and the three-weeks RSI is set at 43.80 for Agora Inc. [API]. The present Moving Average for the last 50 days of trading for this stock 3.02, while it was recorded at 2.85 for the last single week of trading, and 3.40 for the last 200 days.

Insight into Agora Inc. Fundamentals:

Agora Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.

Agora Inc. [API] Institutonal Ownership Details

The top three institutional holders of API stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in API stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in API stock with ownership which is approximately 5.7381%.

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