Why Angi (ANGI) Stock Is Trading Lower Today

StockStory11-13

Why Angi (ANGI) Stock Is Trading Lower Today What Happened? Shares of home services online marketplace ANGI (NASDAQ: ANGI) fell 27.9% in the afternoon session after the company reported ...

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Markets typically reward strong top-line beats, which means investors were likely unimpressed by the sales decline and in-line performance recorded during the quarter. Notably, key top-line growth indicators like service requests continued to decline year on year. However, the company performed impressively on the bottom line, with EBITDA exceeding estimates and making for a decent EPS beat. Overall, this was a mixed, but weaker quarter. \n Separately, IAC (a conglomerate backed by Barry Diller), which owns 85% of Angi, said it wants to sell its position to its shareholders. In a letter to shareholders, IAC added, \"With the considerable progress made and developments on the horizon, we have real upside in the business. Angi's economic foundation continues to strengthen, and we suspect that Angi's best shot at realizing that upside to the benefit of our shareholders may be as a standalone company. \" \nThe stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Angi? Access our full analysis report here, it’s free.\nWhat The Market Is Telling Us\nAngi’s shares are extremely volatile and have had 30 moves greater than 5% over the last year. But moves this big are rare even for Angi and indicate this news significantly impacted the market’s perception of the business. \nThe biggest move we wrote about over the last year was 3 months ago when the stock gained 28.8% on the news that the company reported strong second quarter earnings results. Angi beat analysts' revenue and service request expectations, but we note that sales growth was quite weak, and requests declined. Overall, this was a decent quarter for Angi.\nAngi is down 14.8% since the beginning of the year, and at $2.05 per share, it is trading 31.8% below its 52-week high of $3 from February 2024. Investors who bought $1,000 worth of Angi’s shares 5 years ago would now be looking at an investment worth $266.97. \nHere at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483056352"}