Royal Bank Of Canada Issues Positive Forecast for Angi (NASDAQ:ANGI) Stock Price

Key Points

• Royal Bank Of Canada raised Angi's price target from $17.00 to $20.00, suggesting a potential upside of 5.54% from the stock's previous close.
• Benchmark set a more optimistic price target of $27.00 for the stock while maintaining a "buy" rating, highlighting varying opinions among analysts.
• Angi reported a net margin of 5.50% and a revenue decrease of 11.7% year-over-year, with an earnings miss of $0.23 per share compared to the expected $0.24.

Angi (NASDAQ:ANGI - Free Report) had its price objective increased by Royal Bank Of Canada from $17.00 to $20.00 in a report released on Thursday,Benzinga reports. They currently have a sector perform rating on the technology company's stock.

Several other equities research analysts have also issued reports on the stock. Citigroup lowered shares of Angi from a "buy" rating to a "market perform" rating in a report on Monday, June 16th. Citizens Jmp lowered shares of Angi from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Wall Street Zen lowered shares of Angi from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. JMP Securities reissued a "market perform" rating on shares of Angi in a report on Monday, June 16th. Finally, Benchmark boosted their target price on shares of Angi from $6.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $22.07.

Angi Stock Performance

Shares of Angi stock traded down $0.11 on Thursday, reaching $18.06. The stock had a trading volume of 707,188 shares, compared to its average volume of 839,554. The business's 50-day moving average price is $16.25 and its two-hundred day moving average price is $15.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.79 and a current ratio of 1.79. Angi has a fifty-two week low of $10.88 and a fifty-two week high of $29.15. The stock has a market cap of $866.70 million, a P/E ratio of 14.68 and a beta of 1.70.

Angi (NASDAQ:ANGI - Get Free Report) last issued its quarterly earnings data 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 return on equity of 5.73% and a net margin of 5.50%. The firm had revenue of $278.22 million during the quarter, compared to analyst estimates of $261.02 million. The business's revenue for the quarter was down 11.7% compared to the same quarter last year. On average, sell-side analysts forecast that Angi will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC lifted its position in Angi by 5.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,997,332 shares of the technology company's stock worth $8,296,000 after buying an additional 267,946 shares in the last quarter. Westerly Capital Management LLC lifted its position in Angi by 20.9% during the 4th quarter. Westerly Capital Management LLC now owns 2,840,000 shares of the technology company's stock worth $4,714,000 after buying an additional 490,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Angi by 113.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,722,460 shares of the technology company's stock worth $2,859,000 after buying an additional 914,037 shares in the last quarter. Two Sigma Investments LP lifted its position in Angi by 27.7% during the 4th quarter. Two Sigma Investments LP now owns 732,077 shares of the technology company's stock worth $1,215,000 after buying an additional 158,662 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Angi by 40.1% during the 4th quarter. Two Sigma Advisers LP now owns 724,518 shares of the technology company's stock worth $1,203,000 after buying an additional 207,300 shares in the last quarter. Institutional investors and hedge funds own 12.84% of the company's stock.

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.