In a report released yesterday, Jason Helfstein from Oppenheimer maintained a Buy rating on ANGI Homeservices Inc (NASDAQ: ANGI), with a price target of $16. The company’s shares closed yesterday at $14.18.
Helfstein said:
“We are increasing our target for ANGI to $16 (from $15) on long-term opportunity, but reducing 2019 estimates as supply imbalance causes slower growth. While ’18E EBITDA is unchanged, ANGI is now likely to get there on higher margins (4% lower revenue), caused by a decrease in TV ad spending, as service requests are outstripping available leads and cost synergies are on track/slightly ahead. As such, 2019 will now become more of an “investment year” vs. 2018. As such, we are reducing ’19E EBITDA by 12% and looking at the stock on an EV/sales basis, to reflect the large opportunity ahead of ANGI. More detailed information on 1Q:18 results and 2Q:18 guidance can be found [here].”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 18.7% and a 67.4% 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 Strong Buy and the average price target is $16.67, representing a 17.6% upside.
In a report issued on May 4, Wells Fargo also maintained a Buy rating on the stock with a $15 price target.
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The company has a one-year high of $15.77 and a one-year low of $10.24. Currently, ANGI Homeservices Inc has an average volume of 859.2K.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ANGI in relation to earlier this year.
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ANGI Homeservices, Inc. is a holding company, which engages in the provision of digital marketplace for home services. It intends to enter into a credit agreement with JPMorgan Chase Bank. The company was founded on April 13, 2017 and is headquartered in Golden, CO.
