Angi (ANGI) Reports Q4: Everything You Need To Know Ahead Of Earnings

Jabin Bastian /
2023/02/10 4:10 am EST

Home services online marketplace ANGI (NASDAQ: ANGI) will be announcing earnings results next Monday after the bell. Here's what investors should know.

Last quarter Angi reported revenues of $498 million, up 7.9% year on year, missing analyst expectations by 0.67%. It was a weak quarter for the company, with declining number of users and a miss of the top line analyst estimates. The company reported 7.78 million service requests, down 10.6% 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 7.08% year on year to $445.3 million, slowing down from the 15.7% 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 Q4 earnings results, giving us a hint of what we can expect. Uber delivered top-line growth of 49% year on year, beating analyst estimates by 1.18% and Lyft reported revenues up 21.1% year on year, exceeding estimates by 1.77%. Uber traded up 8.32% on the results, and Lyft was down 24%. Read our full analysis of Uber's results here and Lyft's results here.

There has been positive sentiment among investors in the consumer internet segment, with the stocks up on average 17.2% over the last month. Angi is up 14.6% during the same time, and is heading into the earnings with analyst price target of $5.17, compared to share price of $2.78.

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.