Angi (NASDAQ:ANGI) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Angi's stock from a "strong-buy" rating to a "hold" rating, reflecting growing caution among analysts regarding the company's performance.
• Despite the downgrade, other analysts remain mixed; UBS Group raised their price target to $22.00 while multiple firms have issued "hold" ratings, resulting in an average target price of $22.07.
• Angi reported earnings per share of $0.23, missing estimates by $0.01, and its revenue fell 11.7% year-over-year, indicating challenges for the company amidst market fluctuations.

Angi (NASDAQ:ANGI - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Other analysts have also issued research reports about the stock. JMP Securities reissued a "market perform" rating on shares of Angi in a research report on Monday, June 16th. Wall Street Zen lowered shares of Angi from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Citizens Jmp lowered shares of Angi from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Royal Bank Of Canada boosted their price objective on shares of Angi from $17.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, Citigroup lowered shares of Angi from a "buy" rating to a "market perform" rating in a research report on Monday, June 16th. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $22.07.

Angi Stock Down 4.6%

ANGI traded down $0.83 during trading on Monday, reaching $17.14. The company had a trading volume of 604,623 shares, compared to its average volume of 622,676. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.79. Angi has a 12 month low of $10.88 and a 12 month high of $29.15. The business's fifty day moving average price is $17.21 and its 200 day moving average price is $15.69. The company has a market cap of $759.99 million, a P/E ratio of 13.93 and a beta of 1.80.

Angi (NASDAQ:ANGI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). Angi had a net margin of 5.50% and a return on equity of 5.73%. The company had revenue of $278.22 million during the quarter, compared to the consensus estimate of $261.02 million. The firm's quarterly revenue was down 11.7% compared to the same quarter last year. Equities analysts anticipate that Angi will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Angi

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Angi during the fourth quarter worth $27,000. Graham Capital Management L.P. acquired a new position in shares of Angi in the fourth quarter valued at $46,000. State of Wyoming acquired a new position in shares of Angi in the fourth quarter valued at $69,000. Squarepoint Ops LLC acquired a new position in shares of Angi in the fourth quarter valued at $74,000. Finally, Jane Street Group LLC increased its holdings in shares of Angi by 16.8% in the fourth quarter. Jane Street Group LLC now owns 50,920 shares of the technology company's stock valued at $85,000 after purchasing an additional 7,340 shares during the last quarter. 12.84% of the stock is currently owned by institutional investors and hedge funds.

About Angi

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.