Angi (NASDAQ:ANGI) Stock Price Up 8.9% – Here’s What Happened

Angi Inc. (NASDAQ:ANGI)’s share price shot up 8.9% on Thursday . The stock traded as high as $1.75 and last traded at $1.78. 471,787 shares traded hands during trading, a decline of 54% from the average session volume of 1,030,906 shares. The stock had previously closed at $1.63.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ANGI shares. Citigroup upped their price target on Angi from $1.70 to $2.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. JMP Securities cut their price target on Angi from $3.00 to $2.75 and set a “market outperform” rating for the company in a research note on Thursday. KeyCorp cut their price objective on Angi from $3.00 to $2.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Angi in a research report on Wednesday, December 18th. Finally, UBS Group upgraded Angi to a “hold” rating in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.07.

Angi Stock Up 9.5 %

The stock has a market cap of $887.63 million, a P/E ratio of 25.50 and a beta of 1.86. The company’s 50 day moving average price is $1.75 and its two-hundred day moving average price is $2.18. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.46.

Angi (NASDAQ:ANGI) last posted its earnings results on Monday, November 11th. The technology company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $296.72 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted ($0.01) earnings per share. As a group, research analysts expect that Angi Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ANGI. Assenagon Asset Management S.A. raised its position in shares of Angi by 1,372.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,401,716 shares of the technology company’s stock worth $3,616,000 after purchasing an additional 1,306,515 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Angi by 113.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,722,460 shares of the technology company’s stock worth $2,859,000 after purchasing an additional 914,037 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Angi during the 4th quarter worth about $469,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Angi during the 3rd quarter worth about $645,000. Finally, Bank of New York Mellon Corp purchased a new stake in Angi during the 4th quarter valued at about $210,000. 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.