Oppenheimer Believes ANGI Homeservices Inc (ANGI) Won’t Stop Here


Oppenheimer analyst Jason Helfstein maintained a Buy rating on ANGI Homeservices Inc (NASDAQ: ANGI) today and set a price target of $20. The company’s shares closed yesterday at $18.19, close to its 52-week high of $18.39.

Helfstein wrote:

“We are maintaining our Outperform rating and increasing our price target to $20 from $16 on robust 2Q18 results and expectations for 4Q revenue growth of 20% and 24% in 2019. Management effectively addressing Service Provider (SP) imbalance, with 23% increase in SP’s, while handling 30% increase in request, combined with a 6% increase rev/SP (vs. 2% in 1Q). As expected, consumer marketing was down Y/Y, driving EBITDA margins to 24% from 16% in 1Q. 3Q marketing expected to decrease even more, resulting in additional margin expansion. However, we expect management to reactivate consumer marketing in 2019, targeting 25% revenue growth by 4Q19. $20 target is based on 22x ’20E EBITDA less 10% discount, or an in line marketplace multiple on ’19E.”

According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 20.9% and a 67.2% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, IAC/InterActiveCorp, and Match Group Inc.

Currently, the analyst consensus on ANGI Homeservices Inc is a Strong Buy with an average price target of $18.80, implying a 3.4% upside from current levels. In a report issued on August 2, Wells Fargo also maintained a Buy rating on the stock.

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Based on ANGI Homeservices Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $22.9 million. In comparison, last year the company had a GAAP net loss of $8.06 million.

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ANGI Homeservices, Inc. is a holding company, which engages in the provision of digital marketplace for home services. It operates through the North America and Europe segments. It offers consumer services and service professional services. The company was founded on April 13, 2017 and is headquartered in Golden, CO.

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