Citizens Jmp Reaffirms "Market Perform" Rating for Angi (NASDAQ:ANGI)

Key Points

• Citizens JMP reiterated its "market perform" rating on Angi, while the broader analyst view remains cautious with a consensus "Hold" rating and a $11.00 average price target.
• Angi recently reported quarterly EPS of -$0.22, beating expectations, but revenue of $238.15 million came in slightly below estimates and fell 3.1% year over year.
• The stock opened at $6.24 and remains well below its 1-year high of $19.42; meanwhile, hedge funds have been adding to positions, and institutional investors now own 12.84% of the company.

Angi (NASDAQ:ANGI - Get Free Report)'s stock had its "market perform" rating reissued by equities researchers at Citizens Jmp in a research note issued on Monday,Benzinga reports.

ANGI has been the topic of several other research reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Angi in a research report on Wednesday, June 24th. Benchmark restated a "buy" rating on shares of Angi in a report on Tuesday, May 26th. KeyCorp cut Angi from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, May 6th. The Goldman Sachs Group set a $10.00 price target on Angi and gave the stock a "neutral" rating in a report on Thursday, May 7th. Finally, Zacks Research raised Angi from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Angi currently has a consensus rating of "Hold" and a consensus target price of $11.00.

Angi Stock Performance

ANGI opened at $6.24 on Monday. Angi has a 1-year low of $4.53 and a 1-year high of $19.42. The company has a market cap of $252.41 million, a price-to-earnings ratio of 15.22 and a beta of 1.61. The company's fifty day moving average price is $5.65 and its two-hundred day moving average price is $8.23. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52.

Angi (NASDAQ:ANGI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.19. The firm had revenue of $238.15 million during the quarter, compared to analysts' expectations of $240.63 million. Angi had a net margin of 1.93% and a return on equity of 2.06%. The business's revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. On average, analysts expect that Angi will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Angi

A number of hedge funds and other institutional investors have recently modified their holdings of ANGI. Flax Pond Capital LLC purchased a new stake in shares of Angi during the first quarter valued at approximately $3,324,000. Pacer Advisors Inc. purchased a new position in Angi in the first quarter worth $1,592,000. Empowered Funds LLC bought a new position in Angi in the 1st quarter valued at $1,136,000. Bank of America Corp DE bought a new position in Angi in the 1st quarter valued at $325,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Angi during the 1st quarter valued at $237,000. Hedge funds and other institutional investors own 12.84% of the company's stock.

Angi Company Profile

Angi NASDAQ: ANGI operates a digital marketplace that connects homeowners and renters with service professionals for home improvement, maintenance and repair projects. Through its flagship platform, Angi provides user-friendly tools that allow consumers to research service providers, compare prices, read verified reviews and book appointments. The company's services span a wide range of home needs, including plumbing, electrical work, landscaping, painting, cleaning, remodeling and general handyman tasks.

Originally founded in 1995 as Angie's List, the company built its reputation on a subscription-based model and a comprehensive database of customer reviews.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.