Benchmark Cuts Angi (NASDAQ:ANGI) Price Target to $6.00

Angi (NASDAQ:ANGI) had its price objective dropped by Benchmark from $7.00 to $6.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective points to a potential upside of 242.86% from the company’s current price.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group cut shares of Angi from a “buy” rating to a “neutral” rating and dropped their target price for the company from $3.25 to $2.50 in a report on Wednesday. Citigroup lowered shares of Angi from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $3.25 to $2.00 in a research note on Wednesday. Finally, UBS Group raised shares of Angi to a “hold” rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Angi has an average rating of “Moderate Buy” and a consensus price target of $3.25.

Angi Price Performance

Shares of NASDAQ ANGI opened at $1.75 on Wednesday. Angi has a 1 year low of $1.74 and a 1 year high of $3.10. The stock has a market capitalization of $872.67 million, a P/E ratio of 25.00 and a beta of 1.95. The company’s 50-day moving average is $2.50 and its 200 day moving average is $2.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.98.

Angi (NASDAQ:ANGI) last posted its earnings results on Monday, November 11th. The technology company reported $0.07 earnings per share for the quarter. Angi had a return on equity of 3.79% and a net margin of 2.61%. The firm had revenue of $296.72 million for the quarter, compared to the consensus estimate of $295.90 million. During the same quarter in the prior year, the business earned ($0.01) EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Investing LLC raised its holdings in Angi by 152.5% in the 3rd quarter. Inspire Investing LLC now owns 462,100 shares of the technology company’s stock worth $1,192,000 after acquiring an additional 279,083 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Angi in the 2nd quarter worth $183,000. Vanguard Group Inc. increased its holdings in shares of Angi by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,722,247 shares of the technology company’s stock worth $17,612,000 after purchasing an additional 95,514 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Angi by 36.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock worth $3,562,000 after purchasing an additional 494,739 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Angi during the first quarter valued at $162,000. 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.