Angi (NASDAQ:ANGI) Shares Gap Up - Should You Buy?

Key Points

• Angi Inc. shares experienced a significant increase, opening at $18.26 after previously closing at $15.67, and last trading at $17.97.
• Despite a year-over-year revenue decline of 11.7%, analysts maintain a mixed outlook, with seven holding ratings and three buy ratings, while the average target price is set at $21.36.
• The company reported a quarterly earnings miss with an EPS of $0.23, slightly below estimates, yet achieved revenues of $278.22 million, surpassing expectations of $261.02 million.

Shares of Angi Inc. (NASDAQ:ANGI - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $15.67, but opened at $18.26. Angi shares last traded at $17.97, with a volume of 461,309 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ANGI shares. Citigroup cut Angi from a "buy" rating to a "market perform" rating in a report on Monday, June 16th. JMP Securities reissued a "market perform" rating on shares of Angi in a research note on Monday, June 16th. Benchmark upped their target price on shares of Angi from $6.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wall Street Zen cut Angi from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Finally, Royal Bank Of Canada increased their price target on Angi from $17.00 to $20.00 and gave the company a "sector perform" rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Angi currently has an average rating of "Hold" and an average price target of $22.07.

Angi Price Performance

The stock has a 50-day moving average price of $16.25 and a two-hundred day moving average price of $15.69. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.50. The stock has a market cap of $871.98 million, a price-to-earnings ratio of 14.77 and a beta of 1.70.

Angi (NASDAQ:ANGI - Get Free Report) last issued 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). The business had revenue of $278.22 million for the quarter, compared to analysts' expectations of $261.02 million. Angi had a return on equity of 5.73% and a net margin of 5.50%. The business's revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Angi Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Angi

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new stake in Angi during the 4th quarter valued at about $30,000. Raymond James Financial Inc. purchased a new position in shares of Angi during the 4th quarter valued at about $27,000. Stifel Financial Corp acquired a new position in Angi in the fourth quarter valued at approximately $90,000. Two Sigma Investments LP boosted its holdings in Angi by 27.7% during the fourth 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, State of Wyoming purchased a new stake in shares of Angi during the 4th quarter worth about $69,000. 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.