Angi (NASDAQ:ANGI) Price Target Cut to $3.25

Angi (NASDAQ:ANGI) had its target price reduced by research analysts at Citigroup from $4.00 to $3.25 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s price objective would indicate a potential upside of 27.45% from the company’s previous close.

ANGI has been the subject of a number of other reports. The Goldman Sachs Group upped their price objective on Angi from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Friday, February 16th. KeyCorp lowered their price target on Angi from $4.00 to $3.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Royal Bank of Canada increased their price target on Angi from $2.25 to $3.25 and gave the company a “sector perform” rating in a report on Thursday, February 15th. UBS Group increased their price target on Angi from $2.60 to $3.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Finally, StockNews.com upgraded Angi from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4.13.

Angi Price Performance

ANGI stock traded up $0.01 on Thursday, reaching $2.55. The company had a trading volume of 577,906 shares, compared to its average volume of 870,319. The company’s fifty day moving average is $2.42 and its 200 day moving average is $2.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $1.28 billion, a P/E ratio of -31.88 and a beta of 1.97. Angi has a 1 year low of $1.54 and a 1 year high of $4.18.

Angi (NASDAQ:ANGI) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $300.43 million during the quarter, compared to the consensus estimate of $306.73 million. Angi had a negative return on equity of 3.15% and a negative net margin of 2.84%. On average, research analysts forecast that Angi will post -0.01 earnings per share for the current year.

Insider Activity

In related news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $2.58, for a total transaction of $30,309.84. Following the completion of the transaction, the chief technology officer now directly owns 166,034 shares in the company, valued at approximately $428,367.72. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders sold 35,244 shares of company stock worth $85,643. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ANGI. Pale Fire Capital SE lifted its holdings in shares of Angi by 377.0% during the fourth quarter. Pale Fire Capital SE now owns 6,284,234 shares of the technology company’s stock valued at $15,648,000 after purchasing an additional 4,966,764 shares during the last quarter. FMR LLC increased its position in Angi by 44.6% during the third quarter. FMR LLC now owns 6,430,138 shares of the technology company’s stock worth $12,732,000 after acquiring an additional 1,983,031 shares during the period. Inspire Investing LLC bought a new stake in Angi in the 1st quarter valued at $1,234,000. GSA Capital Partners LLP grew its holdings in shares of Angi by 469.5% in the 1st quarter. GSA Capital Partners LLP now owns 511,684 shares of the technology company’s stock worth $1,341,000 after purchasing an additional 421,841 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in shares of Angi in the 4th quarter worth about $778,000. Institutional investors own 12.84% of the company’s stock.

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.