RBC Capital analyst Brad Erickson maintains $Angi Inc (ANGI.US)$ with a hold rating, and adjusts the target price from $3.25 to $2.75.
According to TipRanks data, the analyst has a success rate of 58.4% and a total average return of 21.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Angi Inc (ANGI.US)$'s main analysts recently are as follows:
Angi Inc.'s third-quarter outcomes were satisfactory, and there's potential exploration of a spinout of its stake by IAC. However, the anticipated turnaround for Angi is progressing slower than initially anticipated, with growth projections now extended to 2026. The focus remains on gaining clearer insights into the completion of Angi's product improvements and investments, a process that has proven to be intricate and more time-consuming than first anticipated.
Subsequent to the Q3 report, there is contemplation over spinning off an 85% ownership stake in Angi to shareholders. Angi is currently in the midst of an operational turnaround, with its revenue experiencing a decline of over 15% year-over-year in Q3. The visibility on a return to positive revenue growth appears to be lower, resulting in a reassessment of the risk/reward balance in the equity.
Note:
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