Angi (NASDAQ:ANGI) Price Target Cut to $3.00

Angi (NASDAQ:ANGI) had its target price reduced by equities research analysts at KeyCorp from $4.00 to $3.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective would indicate a potential upside of 18.11% from the stock’s current price.

ANGI has been the subject of several other reports. UBS Group increased their target price on shares of Angi from $2.60 to $3.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. StockNews.com raised shares of Angi from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. The Goldman Sachs Group increased their price objective on shares of Angi from $3.00 to $3.50 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada increased their price objective on shares of Angi from $2.25 to $3.25 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Angi presently has an average rating of “Moderate Buy” and a consensus target price of $4.11.

Angi Trading Up 4.1 %

Angi stock opened at $2.54 on Friday. The firm has a 50 day moving average of $2.44 and a 200 day moving average of $2.32. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -31.75 and a beta of 1.97. Angi has a 12-month low of $1.54 and a 12-month high of $4.18. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.47.

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

Insider Activity

In other news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 35,244 shares of company stock worth $85,643. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP boosted its position in shares of Angi by 469.5% during the 1st quarter. GSA Capital Partners LLP now owns 511,684 shares of the technology company’s stock valued at $1,341,000 after acquiring an additional 421,841 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Angi by 44.6% during the 1st quarter. BNP Paribas Financial Markets now owns 24,807 shares of the technology company’s stock valued at $65,000 after acquiring an additional 7,649 shares during the last quarter. Cutter & CO Brokerage Inc. bought a new position in shares of Angi during the 1st quarter valued at approximately $108,000. Cornerstone Investment Partners LLC bought a new position in shares of Angi during the 1st quarter valued at approximately $165,000. Finally, Claro Advisors LLC boosted its position in shares of Angi by 81.8% during the 1st quarter. Claro Advisors LLC now owns 124,659 shares of the technology company’s stock valued at $327,000 after acquiring an additional 56,074 shares during the last quarter. 12.84% of the stock is currently owned by institutional investors.

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.