Benchmark Lowers Angi (NASDAQ:ANGI) Price Target to $6.00

Angi (NASDAQ:ANGI) had its target price lowered by Benchmark from $7.00 to $6.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Benchmark’s target price suggests a potential upside of 242.86% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. UBS Group upgraded shares of Angi to a “hold” rating in a research note on Monday, October 28th. The Goldman Sachs Group downgraded Angi from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $3.25 to $2.50 in a research report on Wednesday. Finally, Citigroup cut Angi from a “buy” rating to a “neutral” rating and dropped their price target for the company from $3.25 to $2.00 in a research report on Wednesday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3.25.

Angi Stock Performance

Shares of Angi stock opened at $1.75 on Wednesday. Angi has a 52 week low of $1.74 and a 52 week high of $3.10. The company has a quick ratio of 1.98, a current ratio of 2.05 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $2.50 and a 200-day moving average price of $2.33. The company has a market cap of $872.67 million, a PE ratio of 25.00 and a beta of 1.95.

Angi (NASDAQ:ANGI) last released its quarterly earnings results on Monday, November 11th. The technology company reported $0.07 earnings per share for the quarter. Angi had a net margin of 2.61% and a return on equity of 3.79%. The company had revenue of $296.72 million for the quarter, compared to analyst estimates of $295.90 million. During the same period last year, the firm earned ($0.01) earnings per share.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ANGI. Inspire Investing LLC grew its position in Angi by 152.5% during the 3rd quarter. Inspire Investing LLC now owns 462,100 shares of the technology company’s stock worth $1,192,000 after acquiring an additional 279,083 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Angi in the second quarter worth approximately $183,000. Vanguard Group Inc. increased its stake in shares of Angi by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,722,247 shares of the technology company’s stock worth $17,612,000 after buying an additional 95,514 shares during the period. Dimensional Fund Advisors LP raised its holdings in Angi by 36.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock valued at $3,562,000 after buying an additional 494,739 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Angi during the 1st quarter valued at $162,000. 12.84% of the stock is owned by hedge funds and other institutional investors.

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.