Royal Bank Of Canada Forecasts Strong Price Appreciation for Angi (NASDAQ:ANGI) Stock

Angi (NASDAQ:ANGI) had its price objective lifted by equities researchers at Royal Bank Of Canada from $5.00 to $7.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 1.16% from the stock’s previous close.

ANGI has been the subject of a number of other reports. UBS Group set a $14.00 target price on Angi in a research note on Thursday, September 24th. The Goldman Sachs Group set a $6.00 price target on shares of Angi and gave the company a “neutral” rating in a research note on Monday, July 13th. Truist Financial set a $10.00 price target on shares of Angi and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Angi in a report on Monday, September 21st. Finally, Citizens Jmp reissued a “market perform” rating on shares of Angi in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.57.

Angi Trading Down 5.5%

Angi stock traded down $0.40 during mid-day trading on Thursday, hitting $6.92. 1,392,709 shares of the company’s stock were exchanged, compared to its average volume of 739,057. The company’s 50 day simple moving average is $5.74 and its 200-day simple moving average is $6.69. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $279.91 million, a P/E ratio of -1.21 and a beta of 1.72. Angi has a fifty-two week low of $4.26 and a fifty-two week high of $14.58.

Angi (NASDAQ:ANGI) last posted its earnings results on Tuesday, November 3rd. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $242.02 million during the quarter, compared to analyst estimates of $242.35 million. Angi had a negative net margin of 22.35% and a positive return on equity of 1.52%. On average, equities analysts anticipate that Angi will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Angi

A number of large investors have recently bought and sold shares of ANGI. Versant Capital Management Inc raised its holdings in shares of Angi by 81.4% in the third quarter. Versant Capital Management Inc now owns 5,810 shares of the technology company’s stock valued at $33,000 after purchasing an additional 2,608 shares during the last quarter. Parallel Advisors LLC acquired a new position in Angi during the first quarter worth $25,000. GAMMA Investing LLC boosted its holdings in Angi by 1,047.4% during the third quarter. GAMMA Investing LLC now owns 4,475 shares of the technology company’s stock worth $26,000 after purchasing an additional 4,085 shares during the last quarter. Royal Bank of Canada acquired a new position in Angi during the first quarter worth $73,000. Finally, Vise Technologies Inc. bought a new position in Angi in the third quarter valued at $74,000. Institutional investors and hedge funds own 12.84% of the company’s stock.

About Angi

Angi Inc (NASDAQ: ANGI) operates a digital marketplace that connects homeowners with professionals who provide home improvement, maintenance and repair services. Through its online and mobile platforms, the company helps consumers find, compare and contact service providers for projects ranging from remodeling and landscaping to plumbing, electrical work and cleaning.

Angi’s business includes consumer-facing brands and services such as Angi and HomeAdvisor, as well as the Angi Leads and Angi Services offerings.