Angi (NASDAQ:ANGI) Shares Gap Down Following Weak Earnings

Angi Inc. (NASDAQ:ANGI)’s stock price gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $12.87, but opened at $11.83. Angi shares last traded at $12.0740, with a volume of 312,132 shares.

The technology company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.10). The business had revenue of $265.63 million for the quarter, compared to analyst estimates of $268.96 million. Angi had a return on equity of 5.73% and a net margin of 5.50%.The firm’s revenue was down 10.5% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ANGI shares. Royal Bank Of Canada upped their price target on Angi from $17.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Angi from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Zacks Research lowered shares of Angi from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. UBS Group boosted their price objective on shares of Angi from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, Weiss Ratings lowered shares of Angi from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.21.

Institutional Investors Weigh In On Angi

A hedge fund recently bought a new stake in Angi stock. Poehling Capital Management INC. purchased a new stake in Angi Inc. (NASDAQ:ANGI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,146 shares of the technology company’s stock, valued at approximately $231,000. Institutional investors and hedge funds own 12.84% of the company’s stock.

Angi Stock Performance

The business’s 50-day simple moving average is $15.78 and its two-hundred day simple moving average is $15.82. The firm has a market cap of $531.79 million, a price-to-earnings ratio of 9.87 and a beta of 1.75. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.50.

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.