Angi (NASDAQ:ANGI) Trading Down 3.4% Following Analyst Downgrade

Angi Inc. (NASDAQ:ANGI)’s share price fell 3.4% during trading on Wednesday 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 $1.83 and last traded at $1.87. 269,434 shares were traded during trading, a decline of 63% from the average session volume of 725,297 shares. The stock had previously closed at $1.93.

Other equities analysts have also recently issued research reports about the company. UBS Group raised Angi to a “hold” rating in a report on Monday, October 28th. Citigroup lowered Angi from a “buy” rating to a “neutral” rating and cut their target price for the company from $3.25 to $2.00 in a research report on Wednesday. Benchmark cut their target price on Angi from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group lowered Angi from a “buy” rating to a “neutral” rating and cut their target price for the company from $3.25 to $2.50 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $3.25.

Hedge Funds Weigh In On Angi

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in Angi during the second quarter valued at $26,000. BNP Paribas Financial Markets boosted its position in Angi by 44.6% during the 1st quarter. BNP Paribas Financial Markets now owns 24,807 shares of the technology company’s stock valued at $65,000 after acquiring an additional 7,649 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Angi during the 2nd quarter valued at approximately $85,000. SG Americas Securities LLC bought a new stake in Angi during the 1st quarter valued at approximately $162,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Angi in the 2nd quarter worth approximately $183,000. 12.84% of the stock is owned by institutional investors.

Angi Stock Performance

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 business has a 50-day moving average price of $2.52 and a 200 day moving average price of $2.33. The stock has a market capitalization of $920.05 million, a P/E ratio of 26.36 and a beta of 1.95.

Angi (NASDAQ:ANGI) last released its quarterly earnings data on Monday, November 11th. The technology company reported $0.07 earnings per share (EPS) for the quarter. The business had revenue of $296.72 million for the quarter, compared to analysts’ expectations of $295.90 million. Angi had a return on equity of 3.79% and a net margin of 2.61%. During the same period in the prior 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.