Angi (NASDAQ:ANGI) Stock Price Crosses Above 200 Day Moving Average After 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) crossed above its 200-day moving average during trading on Monday after Zacks Research upgraded the stock to a strong-buy rating. The stock has a 200-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 trading hands.

A number of other equities research analysts have also recently weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Angi in a report on Monday, June 16th. Benchmark raised their price target 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 downgraded shares of Angi from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Citizens Jmp downgraded shares of Angi from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Finally, Royal Bank Of Canada raised their price target on shares of Angi from $17.00 to $20.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $22.07.

Institutional Investors Weigh In On Angi

A number of large investors have recently added to or reduced their stakes in ANGI. Bridgeway Capital Management LLC bought a new stake in Angi in the 4th quarter worth approximately $1,079,000. Two Sigma Advisers LP grew its position in Angi by 40.1% in the 4th 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 during the period. Two Sigma Investments LP grew its position 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 period. Balyasny Asset Management L.P. bought a new stake in Angi in the 4th quarter worth approximately $97,000. Finally, Brevan Howard Capital Management LP bought a new stake in Angi in the 4th quarter worth approximately $92,000. Institutional investors own 12.84% of the company's stock.

Angi Stock Up 0.9%

The company's 50 day moving average price is $17.12 and its two-hundred day moving average price is $15.67. The firm has a market cap of $818.52 million, a PE ratio of 15.01 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.

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 the consensus estimate 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 company's revenue was down 11.7% on a year-over-year basis. On average, equities research analysts expect that Angi Inc. will post 0.08 EPS for the current fiscal year.

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.

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