Home services online marketplace ANGI (NASDAQ: ANGI) will be reporting earnings tomorrow after market hours. Here’s what you need to know.
Angi met analysts’ revenue expectations last quarter, reporting revenues of $296.7 million, down 15.5% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EBITDA estimates but a decline in its requests. It reported 4.49 million service requests, down 26% year on year.
Is Angi a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Angi’s revenue to decline 15.3% year on year to $254.5 million, improving from the 27.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Angi has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Angi’s peers in the consumer internet segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Uber delivered year-on-year revenue growth of 20.4%, beating analysts’ expectations by 1.6%, and Alphabet reported revenues up 11.8%, in line with consensus estimates. Uber’s stock price was unchanged after the results, while Alphabet was down 7.2%.
Read our full analysis of Uber’s results here and Alphabet’s results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 10.6% on average over the last month. Angi is up 14.1% during the same time and is heading into earnings with an average analyst price target of $2.98 (compared to the current share price of $1.79).
Here 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 benefiting from the rise of AI, available to you FREE via this link.