Angi (NASDAQ:ANGI) Shares Gap Up – Time to Buy?

Angi Inc. (NASDAQ:ANGI) gapped up prior to trading on Wednesday . The stock had previously closed at $1.73, but opened at $1.92. Angi shares last traded at $2.02, with a volume of 1,460,288 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ANGI shares. JMP Securities reiterated a “market outperform” rating and set a $3.00 price target on shares of Angi in a report on Monday, December 16th. KeyCorp dropped their target price on shares of Angi from $3.00 to $2.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. The Goldman Sachs Group downgraded Angi from a “buy” rating to a “neutral” rating and reduced their price target for the company from $3.25 to $2.50 in a report on Wednesday, November 13th. Benchmark reduced their target price on Angi from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, UBS Group raised Angi to a “hold” rating in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.11.

Angi Price Performance

The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $1.76 and its two-hundred day moving average price is $2.18. The stock has a market cap of $902.55 million, a price-to-earnings ratio of 25.79 and a beta of 1.86.

Angi (NASDAQ:ANGI) last announced its earnings results on Monday, November 11th. The technology company reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $296.72 million for the quarter, compared to analyst estimates of $295.90 million. Angi had a return on equity of 3.79% and a net margin of 2.61%. During the same quarter last year, the firm posted ($0.01) EPS. Equities research analysts forecast that Angi Inc. will post 0.08 EPS for the current fiscal year.

Institutional Trading of Angi

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Angi in the fourth quarter valued at approximately $27,000. Barclays PLC lifted its holdings in Angi by 1,255.5% in the third quarter. Barclays PLC now owns 16,401 shares of the technology company’s stock valued at $42,000 after acquiring an additional 15,191 shares during the period. Centiva Capital LP purchased a new position in Angi in the third quarter valued at about $46,000. Jones Financial Companies Lllp grew its holdings in Angi by 38.8% in the fourth quarter. Jones Financial Companies Lllp now owns 28,439 shares of the technology company’s stock valued at $47,000 after purchasing an additional 7,944 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Angi during the fourth quarter worth about $73,000. Institutional investors and hedge funds own 12.84% of the company’s stock.

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.