Angi (ANGI) Reports Earnings Tomorrow. What To Expect

Kayode Omotosho /
2022/11/07 2:31 am EST

Home services online marketplace ANGI (NASDAQ: ANGI) will be reporting earnings tomorrow after the bell. Here's what to look for.

Last quarter Angi reported revenues of $515.7 million, up 22.5% year on year, beating analyst revenue expectations by 4.11%. It was a slower quarter for the company, with declining number of users. The company reported 8.49 million service requests, down 9.77% 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 8.76% year on year to $502 million, slowing down from the 18.3% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.

Angi Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.

Looking at Angi's peers in the consumer internet segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Uber delivered top-line growth of 72.1% year on year, beating analyst estimates by 2.72% and Etsy reported revenues up 11.6% year on year, exceeding estimates by 5.36%. Uber traded up 8.31% on the results, Etsy was up 8.26%. Read our full analysis of Uber's results here and Etsy's results here.

Tech stocks have been facing declining investor sentiment in 2022 and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 4.95% over the last month. Angi is down 31.5% during the same time, and is heading into the earnings with analyst price target of $8.40, compared to share price of $2.02.

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.