Angi (NASDAQ:ANGI) Stock Breaks Above 200 Day Moving Average - Here's Why

Key Points

• Angi shares moved above their 200-day moving average, reaching $6.22 and last trading at $6.10, compared with a 200-day average of $5.81.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $10.57; individual targets range from $6 to $14.
• Angi reported a significant quarterly loss of $5.70 per share, missing estimates by $5.83, while revenue fell 10.9% year over year to $248 million.

Angi Inc. (NASDAQ:ANGI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $5.81 and traded as high as $6.22. Angi shares last traded at $6.10, with a volume of 766,383 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ANGI shares. Citizens Jmp reaffirmed a "market perform" rating on shares of Angi in a research report on Monday, July 13th. Truist Financial set a $10.00 target price on shares of Angi and gave the stock a "buy" rating in a research report on Thursday, August 6th. UBS Group set a $14.00 price target on shares of Angi in a research note on Thursday, September 24th. Weiss Ratings restated a "sell (d)" rating on shares of Angi in a report on Monday, September 21st. Finally, The Goldman Sachs Group set a $6.00 price target on shares of Angi and gave the company a "neutral" rating in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Angi presently has an average rating of "Hold" and an average target price of $10.57.

Angi Trading Up 2.3%

The company has a market capitalization of $246.75 million, a P/E ratio of -1.11 and a beta of 1.71. The company has a 50-day simple moving average of $5.12 and a 200 day simple moving average of $5.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Angi (NASDAQ:ANGI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported ($5.70) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($5.83). The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $253.43 million. Angi had a negative net margin of 22.35% and a positive return on equity of 1.52%. The firm's revenue was down 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. Sell-side analysts expect that Angi Inc. will post 0.16 earnings per share for the current year.

Institutional Trading of Angi

A number of hedge funds have recently bought and sold shares of ANGI. Pacer Advisors Inc. acquired a new position in shares of Angi during the first quarter valued at about $1,592,000. Flax Pond Capital LLC acquired a new stake in Angi during the first quarter worth about $3,324,000. Pale Fire Capital SE acquired a new stake in Angi during the second quarter worth about $23,386,000. Empowered Funds LLC bought a new position in Angi during the first quarter valued at about $1,136,000. Finally, Squarepoint Ops LLC bought a new position in Angi during the second quarter valued at about $162,000. 12.84% of the stock is owned by institutional investors.

About Angi

Angi Inc NASDAQ: ANGI operates a digital marketplace that connects homeowners with professionals who provide home improvement, maintenance and repair services. Through its platform, consumers can search for service providers, request project estimates, schedule appointments and manage home-related projects.

The company serves a broad range of categories, including remodeling, roofing, plumbing, electrical work, landscaping, cleaning and other residential services. Angi generates business by helping service professionals market their offerings and connect with potential customers, while providing homeowners with tools and information to evaluate and arrange services.

The company traces its history to Angie's List, which was founded in 1995.

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