Angi (NASDAQ:ANGI) Shares Gap Up – Here’s What Happened

Angi Inc. (NASDAQ:ANGI)’s share price 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 changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on ANGI shares. The Goldman Sachs Group lowered Angi from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $3.25 to $2.50 in a research note on Wednesday, November 13th. Citigroup increased their target price on shares of Angi from $1.70 to $2.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Benchmark reduced their price target on shares of Angi from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and issued a $3.00 price objective on shares of Angi in a research report on Monday, December 16th. Finally, UBS Group raised shares of Angi to a “hold” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Angi has an average rating of “Hold” and an average price target of $3.11.

Angi Stock Performance

The stock has a market cap of $902.55 million, a price-to-earnings ratio of 25.79 and a beta of 1.86. 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 company’s 50-day simple moving average is $1.76 and its 200-day simple moving average is $2.18.

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

Hedge Funds Weigh In On Angi

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANGI. Assenagon Asset Management S.A. boosted its position in shares of Angi by 1,372.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,401,716 shares of the technology company’s stock worth $3,616,000 after buying an additional 1,306,515 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Angi by 113.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,722,460 shares of the technology company’s stock valued at $2,859,000 after purchasing an additional 914,037 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Angi in the 4th quarter valued at about $469,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Angi in the third quarter worth approximately $645,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Angi during the fourth quarter worth approximately $210,000. 12.84% of the stock is currently owned by hedge funds and other institutional investors.

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.