Home services online marketplace ANGI (NASDAQ: ANGI) will be announcing earnings results tomorrow after the bell. Here's what you need to know.
Last quarter Angi reported revenues of $461.5 million, up 18.3% year on year, beating analyst revenue expectations by 1.91%. It was a mixed quarter for the company, with declining number of users. The company reported 8.7 million service requests, down 11.4% 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 13.6% year on year to $408.3 million, improving on the 11.7% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.03 per share.
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 three times over the last two years.
Looking at Angi's peers in the gig economy segment, some of them have already reported Q4 earnings results, giving us a hint what we can expect. Uber delivered top-line growth of 83% year on year, beating analyst estimates by 7.85% and Lyft reported revenues up 70.1% year on year, exceeding estimates by 3.08%. Uber traded down 6.04% on results, Lyft was up 6.62%. Read our full analysis of Uber's results here and Lyft's results here.
The technology sell-off has been putting pressure on stocks since November and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 2.75% over the last month. Angi is up 3.03% during the same time, and is heading into the earnings with with analyst price target of $15.6, compared to share price of $8.48.
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The author has no position in any of the stocks mentioned.