Angi Inc. Elevated to 'Buy' Status by StockNews.com Analysts

Equities research analysts at StockNews.com have recently upgraded their rating of Angi Inc. ANGI, shifting from a 'hold' to a 'buy' recommendation for the company's shares. This notable change in investment outlook was disseminated in a research note delivered to investors this past Thursday, emphasizing a more optimistic stance towards the home service professional connector's stock.

The Broader Analysts' Perspective on ANGI

While StockNews.com's upgrade to a 'buy' rating for ANGI is current, it's important to consider the broader analytical community's perspective. Credit Suisse Group previously adjusted their price target on Angi's shares from $7.00 to $6.00, whilst maintaining an 'outperform' rating. Similarly, Benchmark revised their price target, bringing it down from $8.00 to $7.00 but still supporting a 'buy' rating on the stock.

KeyCorp's analysts have also modified their insights, reducing their price objective from $5.00 to $4.00, yet assigning an 'overweight' rating on the shares. Furthermore, following this trend, Royal Bank of Canada has cut its target price from $3.25 to $2.25 with an accompanying 'sector perform' rating. UBS Group took comparable action, lowering their price target from $3.70 to $3.00 and providing a 'neutral' rating on ANGI. In aggregate, out of the analysts' ratings made public, two have given ANGI a hold rating and eight suggest a buy, leading to an average 'Moderate Buy' classification with an average price target circling $4.32.

Recent Performance and Institutional Moves on ANGI

On the trading front, ANGI opened at $1.75 on the recent Thursday with a rise of 5.4%. The company's market capitalization stands at $885.99 million, and it operates with a P/E ratio of -9.72 and a beta of 1.69. Other financial barometers include a quick ratio of 1.69, a current ratio of 1.70, and a debt-to-equity ratio of 0.47. ANGI has experienced a 12-month low of $1.55 and a high of $4.18, with moving averages suggesting a 50-day mark at $1.91 and 200-day at $2.68. In its quarterly earnings posted on November 8th, ANGI reported a minor earnings per share (EPS) surprise, coming in at ($0.01) which is above the consensus estimate of ($0.03) by $0.02. The past fiscal year's EPS is predicted to settle at -$0.11.

Hedge funds and institutional investors have been actively amending their stakes in ANGI as well. Boulder Hill Capital Management LP initiated a new position valued at roughly $26,000, and Pinnacle Associates Ltd. hiked its shareholdings by 53.8%, now totaling about $45,000. Bessemer Group Inc. has purchased new stakes worth around $29,000, Mirae Asset Global Investments Co. Ltd. enhanced its investment by 5.3%, and Brown Advisory Inc. bolstered its ownership by an additional 1.7%, currently holding shares valued at approximately $21,910,000. Overall, 11.42% of ANGI's shares are held by institutional investors and hedge funds.

About Angi Inc.

Angi Inc. plays a pivotal role in bridging the gap between consumers and home service professionals both within the United States and on an international scale. Its platform offers an array of services, from a comprehensive online directory of service professionals across various categories to verified customer reviews and tools aiding in the hiring process. Angi also caters to service professionals by providing advertising opportunities, payment and invoicing solutions, and more, enriching the overall ecosystem of home services.

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