Angi (NASDAQ:ANGI) Shares Gap Up - Time to 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 before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of Angi from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Benchmark increased their target price on Angi from $6.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Citizens Jmp downgraded Angi from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. UBS Group dropped their price target on Angi from $24.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada lowered their target price on Angi from $27.50 to $17.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Angi currently has an average rating of "Hold" and an average target price of $21.36.

Angi Stock Up 15.3%

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 2.15. The business has a 50 day simple moving average of $16.09 and a 200 day simple moving average of $15.71. The stock has a market cap of $867.17 million, a PE ratio of 16.43 and a beta of 1.70.

Angi (NASDAQ:ANGI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $278.22 million during the quarter, compared to the consensus estimate of $261.02 million. Angi had a net margin of 4.69% and a return on equity of 4.99%. Angi's revenue for the quarter was down 11.7% on a year-over-year basis. On average, equities research analysts forecast that Angi Inc. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Angi

Several institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC acquired a new position in Angi during the fourth quarter worth $30,000. Raymond James Financial Inc. bought a new stake in shares of Angi during the 4th quarter worth about $27,000. Stifel Financial Corp bought a new position in shares of Angi in the 4th quarter valued at approximately $90,000. Two Sigma Investments LP lifted its holdings in Angi by 27.7% in the 4th quarter. Two Sigma Investments LP now owns 732,077 shares of the technology company's stock worth $1,215,000 after purchasing an additional 158,662 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Angi by 113.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,722,460 shares of the technology company's stock worth $2,859,000 after purchasing an additional 914,037 shares during the period. Institutional investors and hedge funds 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.

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