Angi (NASDAQ:ANGI) Rating Increased to Buy at Wall Street Zen

Key Points

• Angi has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive outlook on the stock.
• Royal Bank of Canada and UBS Group have both increased their price targets for Angi, with UBS raising it to $22.00.
• The company's latest earnings report showed a quarterly revenue of $278.22 million, exceeding expectations, although it reported a decrease compared to the previous year.

Wall Street Zen upgraded shares of Angi (NASDAQ:ANGI - Free Report) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other equities research analysts also recently commented on ANGI. Royal Bank Of Canada boosted their target price on Angi from $17.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Citigroup downgraded Angi from a "buy" rating to a "market perform" rating in a research report on Monday, June 16th. JMP Securities reiterated a "market perform" rating on shares of Angi in a research report on Monday, June 16th. Zacks Research downgraded Angi from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Citizens Jmp downgraded Angi from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Angi has an average rating of "Hold" and a consensus price target of $22.07.

Angi Price Performance

Shares of NASDAQ ANGI traded up $0.38 during mid-day trading on Friday, reaching $18.10. The company's stock had a trading volume of 832,346 shares, compared to its average volume of 659,188. The firm has a market capitalization of $802.55 million, a PE ratio of 14.72 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 stock has a fifty day moving average of $17.31 and a two-hundred day moving average of $15.72. Angi has a 52 week low of $10.88 and a 52 week high of $29.15.

Angi (NASDAQ:ANGI - Get Free Report) last released 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). The business had revenue of $278.22 million during the quarter, compared to the consensus estimate of $261.02 million. Angi had a return on equity of 5.73% and a net margin of 5.50%.The firm's revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Angi will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ANGI. Two Sigma Advisers LP grew its stake in Angi by 40.1% in the fourth quarter. Two Sigma Advisers LP now owns 724,518 shares of the technology company's stock worth $1,203,000 after purchasing an additional 207,300 shares in the last quarter. Two Sigma Investments LP boosted 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 valued at $1,215,000 after acquiring an additional 158,662 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Angi during the 4th quarter valued at $97,000. Squarepoint Ops LLC bought a new stake in Angi during the 4th quarter valued at $74,000. Finally, State of Wyoming bought a new stake in Angi during the 4th quarter valued at $69,000. Institutional investors own 12.84% of the company's stock.

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.