Angi (ANGI) Reports Earnings Tomorrow. What To Expect

Radek Strnad /
2022/08/08 4:18 am EDT
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Home services online marketplace ANGI (NASDAQ: ANGI) will be reporting earnings tomorrow after the bell. Here's what you need to know.

Last quarter Angi reported revenues of $436.1 million, up 12.6% year on year, beating analyst revenue expectations by 1.38%. It was a weak quarter for the company, with declining number of users and a slow revenue growth. The company reported 6.7 million service requests, down 13% year on year.

Is Angi buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Angi's revenue to grow 17.6% year on year to $495.4 million, improving on the 12.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.03 per share.

Angi Total Revenue

The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing four upwards revisions over the last thirty days. The company missed Wall St's revenue estimates twice over the last two years.

Looking at Angi's peers in the gig economy segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Lyft delivered top-line growth of 29.5% year on year, beating analyst estimates by 0.26% and Uber reported revenues up 105% year on year, exceeding estimates by 9.48%. Lyft traded up 3.52% on the results, and Uber was up 15.4%. Read our full analysis of Lyft's results here and Uber's results here.

There has been positive sentiment among investors in the gig economy segment, with the stocks up on average 19.6% over the last month. Angi is up 45.3% during the same time, and is heading into the earnings with analyst price target of $9.7, compared to share price of $5.83.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

The author has no position in any of the stocks mentioned.