Angi (NASDAQ:ANGI) Sets New 1-Year Low After Analyst Downgrade

Angi Inc. (NASDAQ:ANGI)’s stock price reached a new 52-week low during mid-day trading on Thursday after JMP Securities lowered their price target on the stock from $3.25 to $3.00. JMP Securities currently has a market outperform rating on the stock. Angi traded as low as $1.79 and last traded at $1.79, with a volume of 83058 shares trading hands. The stock had previously closed at $1.85.

A number of other brokerages also recently issued reports on ANGI. UBS Group upgraded Angi to a “hold” rating in a research report on Monday, October 28th. Citigroup lowered shares of Angi from a “buy” rating to a “neutral” rating and dropped their target price for the company from $3.25 to $2.00 in a research report on Wednesday. The Goldman Sachs Group lowered shares of Angi from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.25 to $2.50 in a report on Wednesday. Finally, Benchmark dropped their price objective on shares of Angi from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3.25.

Hedge Funds Weigh In On Angi

Several institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in Angi in the second quarter worth $26,000. BNP Paribas Financial Markets boosted its holdings in Angi by 44.6% during the 1st quarter. BNP Paribas Financial Markets now owns 24,807 shares of the technology company’s stock valued at $65,000 after acquiring an additional 7,649 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Angi during the 2nd quarter worth approximately $85,000. SG Americas Securities LLC purchased a new position in Angi in the 1st quarter worth approximately $162,000. Finally, Assenagon Asset Management S.A. bought a new stake in Angi in the second quarter valued at approximately $183,000. Institutional investors own 12.84% of the company’s stock.

Angi Stock Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.98. The stock has a market cap of $892.62 million, a PE ratio of 26.36 and a beta of 1.95. The business has a 50 day moving average price of $2.52 and a two-hundred day moving average price of $2.33.

Angi (NASDAQ:ANGI) last announced its quarterly earnings results on Monday, November 11th. The technology company reported $0.07 earnings per share for the quarter. Angi had a net margin of 2.61% and a return on equity of 3.79%. The business had revenue of $296.72 million during the quarter, compared to analysts’ expectations of $295.90 million. During the same quarter in the prior year, the company posted ($0.01) EPS.

Angi Company Profile

Angi Inc connects home service professionals with consumers in the United States and internationally. The company operates through three segments: Ads and Leads, Services, and International. It provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals, matches consumers with independently established home services professionals.