Angi (NASDAQ:ANGI) Sets New 12-Month Low on Analyst Downgrade

Angi Inc. (NASDAQ:ANGI)’s share price reached a new 52-week low on Thursday after JMP Securities lowered their price target on the stock from $3.25 to $3.00. JMP Securities currently has a market outperform rating on the stock. Angi traded as low as $1.79 and last traded at $1.79, with a volume of 83058 shares changing hands. The stock had previously closed at $1.85.

Several other analysts have also recently weighed in on the company. The Goldman Sachs Group cut Angi from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.25 to $2.50 in a research report on Wednesday. Benchmark lowered their target price on shares of Angi from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup lowered shares of Angi from a “buy” rating to a “neutral” rating and lowered their target price for the company from $3.25 to $2.00 in a report on Wednesday. Finally, UBS Group upgraded shares of Angi to a “hold” rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3.25.

Institutional Investors Weigh In On Angi

A number of large investors have recently added to or reduced their stakes in ANGI. Assenagon Asset Management S.A. grew its position in Angi by 1,372.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,401,716 shares of the technology company’s stock worth $3,616,000 after purchasing an additional 1,306,515 shares during the period. Dimensional Fund Advisors LP grew its position in Angi by 36.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock worth $3,562,000 after purchasing an additional 494,739 shares during the period. Inspire Investing LLC grew its position in Angi by 152.5% in the 3rd quarter. Inspire Investing LLC now owns 462,100 shares of the technology company’s stock worth $1,192,000 after purchasing an additional 279,083 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Angi during the 3rd quarter valued at $645,000. Finally, AQR Capital Management LLC grew its position in shares of Angi by 24.1% during the 2nd quarter. AQR Capital Management LLC now owns 829,800 shares of the technology company’s stock valued at $1,593,000 after acquiring an additional 161,189 shares during the period. Institutional investors own 12.84% of the company’s stock.

Angi Stock Performance

The business’s 50-day moving average price is $2.50 and its 200-day moving average price is $2.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.98 and a current ratio of 2.05. The stock has a market cap of $872.67 million, a P/E ratio of 25.00 and a beta of 1.95.

Angi (NASDAQ:ANGI) last issued its quarterly earnings data on Monday, November 11th. The technology company reported $0.07 earnings per share (EPS) for the quarter. Angi had a net margin of 2.61% and a return on equity of 3.79%. The firm had revenue of $296.72 million during the quarter, compared to the consensus estimate of $295.90 million. During the same quarter in the previous year, the firm posted ($0.01) EPS.

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.