Shares of Angi Inc. (NASDAQ: ANGI) are currently rated as a “Hold” by nine brokerages following recent evaluations, according to data from MarketBeat. The average 12-month price target for the stock stands at $19.75. Analyst activity indicates a mixed outlook, with one analyst issuing a sell rating, six maintaining a hold rating, and two offering a buy rating.
In recent reports, several equity research firms adjusted their price targets for Angi. For instance, UBS Group reduced its price objective from $22.00 to $15.00 while maintaining a “neutral” rating. Meanwhile, Weiss Ratings reiterated a “sell (d)” rating. On the other hand, Zacks Research upgraded Angi from a “strong sell” to a “hold” rating.
Analysts at the Royal Bank of Canada also adjusted their forecast, lowering the price target from $20.00 to $18.00, while assigning a “sector perform” rating. Additionally, Wall Street Zen downgraded Angi from a buy to a hold rating in late October.
Stock Performance and Financials
As of Monday, Angi shares opened at $12.65. The company’s 50-day simple moving average is $12.30, and its 200-day simple moving average stands at $14.99. Over the past year, Angi has seen a low of $10.25 and a high of $20.70. The firm has a market capitalization of $545.85 million, a price-to-earnings ratio of 16.64, and a beta of 1.71. Its liquidity ratios indicate a current ratio of 1.89 and a quick ratio of 1.89, with a debt-to-equity ratio of 0.50.
Angi recently released its earnings results on November 4, 2023, reporting earnings per share (EPS) of $0.23, which fell short of the consensus estimate of $0.33 by $0.10. The company recorded revenue of $265.63 million, slightly below analysts’ expectations of $268.96 million. This revenue figure represents a decline of 10.5% compared to the same quarter last year. Analysts project an EPS of $0.08 for the current year.
About Angi Inc.
Angi Inc. operates a digital marketplace that connects homeowners and renters with service professionals for various home improvement, maintenance, and repair projects. The platform offers tools for consumers to research service providers, compare prices, read verified reviews, and schedule appointments. Services range from plumbing and electrical work to landscaping, cleaning, and general handyman tasks. Originally founded in 1995 as Angie’s List, Angi has transitioned from a subscription-based model to a broader marketplace approach.
This evolving landscape and recent ratings adjustments reflect the complexities facing Angi as it navigates market pressures and competitive challenges. Investors and analysts will be keen to monitor how these factors influence the company’s future performance.
