Angi (NASDAQ:ANGI) Shares Pass Above 200 Day Moving Average Following Analyst Downgrade

Key Points

• Angi Inc. stock crossed above its 200-day moving average after being upgraded to a strong-buy rating by Zacks Research, trading at $18.46.
• Several equities research analysts have issued a mix of ratings for Angi, resulting in a consensus rating of "Hold" and an average price target of $22.07.
• Despite reporting a decrease in revenue of 11.7% year-over-year, Angi's recent quarterly earnings missed consensus estimates, showing $0.23 earnings per share against an expected $0.24.

Angi Inc. (NASDAQ:ANGI - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock has a two hundred day moving average of $15.67 and traded as high as $18.70. Angi shares last traded at $18.46, with a volume of 721,279 shares changing hands.

Several other equities research analysts have also issued reports on the company. Citigroup lowered 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. UBS Group raised their price objective on Angi from $20.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Citizens Jmp downgraded Angi from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Finally, Zacks Research downgraded Angi from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $22.07.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Graham Capital Management L.P. bought a new stake in shares of Angi during the fourth quarter worth $46,000. State of Wyoming bought a new stake in shares of Angi during the fourth quarter worth $69,000. Squarepoint Ops LLC bought a new stake in shares of Angi during the fourth quarter worth $74,000. Jane Street Group LLC grew its holdings in shares of Angi by 16.8% during the fourth quarter. Jane Street Group LLC now owns 50,920 shares of the technology company's stock worth $85,000 after purchasing an additional 7,340 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Angi during the fourth quarter worth $90,000. 12.84% of the stock is currently owned by institutional investors and hedge funds.

Angi Stock Performance

The stock has a market cap of $759.99 million, a price-to-earnings ratio of 13.93 and a beta of 1.80. 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 firm has a fifty day simple moving average of $17.21 and a 200-day simple moving average of $15.70.

Angi (NASDAQ:ANGI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). Angi had a net margin of 5.50% and a return on equity of 5.73%. The firm had revenue of $278.22 million during the quarter, compared to the consensus estimate of $261.02 million. The company's revenue for the quarter was down 11.7% on a year-over-year basis. Analysts forecast that Angi Inc. will post 0.08 EPS for the current fiscal year.

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.