Needham & Company LLC Reaffirms Buy Rating for ANGI Homeservices (NASDAQ:ANGI)

ANGI Homeservices (NASDAQ:ANGI)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Tuesday, June 25th, Marketbeat reports. They currently have a $20.00 price objective on the technology company’s stock, down from their prior price objective of $23.00. Needham & Company LLC’s price target indicates a potential upside of 52.79% from the company’s current price.

Several other equities analysts also recently issued reports on ANGI. Zacks Investment Research upgraded shares of Garrett Motion from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Aegis started coverage on shares of ANGI Homeservices in a report on Monday, April 8th. They set a “buy” rating and a $22.00 price objective on the stock. SunTrust Banks restated a “buy” rating and set a $20.00 price objective on shares of ANGI Homeservices in a report on Wednesday, May 22nd. BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. set a €118.00 ($137.21) price target on shares of Deutsche Boerse and gave the stock a “neutral” rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $22.69.

NASDAQ:ANGI traded down $0.08 during mid-day trading on Tuesday, reaching $13.09. The company’s stock had a trading volume of 723,743 shares, compared to its average volume of 1,076,924. ANGI Homeservices has a 1 year low of $12.76 and a 1 year high of $23.95. The business’s fifty day simple moving average is $14.04. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 87.27, a PEG ratio of 2.93 and a beta of 2.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

ANGI Homeservices (NASDAQ:ANGI) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. ANGI Homeservices had a net margin of 8.15% and a return on equity of 8.11%. The business had revenue of $303.44 million during the quarter, compared to analyst estimates of $305.54 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, equities analysts forecast that ANGI Homeservices will post 0.19 earnings per share for the current year.

In other ANGI Homeservices news, CEO William B. Ridenour sold 10,989 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $16.29, for a total value of $179,010.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Luxor Capital Group, Lp sold 795,100 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $13.83, for a total value of $10,996,233.00. The disclosure for this sale can be found here. Insiders sold a total of 1,102,012 shares of company stock worth $15,530,856 in the last 90 days. 13.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANGI. Great West Life Assurance Co. Can grew its position in ANGI Homeservices by 140.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,264 shares of the technology company’s stock valued at $97,000 after acquiring an additional 3,664 shares in the last quarter. First Manhattan Co. raised its holdings in ANGI Homeservices by 145.0% in the first quarter. First Manhattan Co. now owns 8,575 shares of the technology company’s stock valued at $132,000 after acquiring an additional 5,075 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in ANGI Homeservices in the fourth quarter valued at approximately $165,000. Parametrica Management Ltd acquired a new stake in ANGI Homeservices in the first quarter valued at approximately $176,000. Finally, SG Americas Securities LLC acquired a new stake in ANGI Homeservices in the fourth quarter valued at approximately $188,000. 14.38% of the stock is owned by institutional investors.

About ANGI Homeservices

ANGI Homeservices Inc operates a digital marketplace for home services, connecting millions of homeowners with home service professionals in North America and Europe. Its HomeAdvisor digital marketplace service connects consumers with service professionals for home repair, maintenance, and improvement projects, as well as provides consumers with tools and resources to help them find local, pre-screened, and customer-rated service professionals.

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Analyst Recommendations for ANGI Homeservices (NASDAQ:ANGI)

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