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

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 researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday, September 8th,Zacks.com reports.

Several other analysts have also recently weighed in on the company. Citigroup cut Angi from a "buy" rating to a "market perform" rating in a research report on Monday, June 16th. UBS Group lifted their price objective on Angi from $20.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Wall Street Zen cut Angi from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. JMP Securities reaffirmed a "market perform" rating on shares of Angi in a research report on Monday, June 16th. Finally, Citizens Jmp cut Angi from an "outperform" 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, Angi presently has an average rating of "Hold" and an average price target of $22.07.

Angi Trading Down 1.1%

NASDAQ:ANGI traded down $0.18 during mid-day trading on Monday, reaching $16.96. 384,206 shares of the company's stock traded hands, compared to its average volume of 810,712. Angi has a 12-month low of $10.88 and a 12-month high of $29.15. The firm has a market capitalization of $752.04 million, a price-to-earnings ratio of 13.79 and a beta of 1.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.79. The company has a 50 day moving average price of $17.21 and a 200-day moving average price of $15.68.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). The business had revenue of $278.22 million for the quarter, compared to analysts' expectations of $261.02 million. Angi had a net margin of 5.50% and a return on equity of 5.73%. The business's revenue was down 11.7% on a year-over-year basis. On average, sell-side analysts predict that Angi will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Angi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Poehling Capital Management INC. bought a new position in Angi in the 2nd quarter valued at approximately $231,000. Raymond James Financial Inc. bought a new position in Angi in the 4th quarter valued at approximately $27,000. Graham Capital Management L.P. bought a new position in Angi in the 4th quarter valued at approximately $46,000. State of Wyoming bought a new position in Angi in the 4th quarter valued at approximately $69,000. Finally, Squarepoint Ops LLC bought a new position in Angi in the 4th quarter valued at approximately $74,000. 12.84% of the stock is owned by institutional investors.

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.