What To Expect From Angi’s (ANGI) Q1 Earnings

Adam Hejl /
2022/05/06 7:10 am EDT

Home services online marketplace ANGI (NASDAQ: ANGI) will be reporting earnings next Monday afternoon. Here's what to look for.

Last quarter Angi reported revenues of $415.8 million, up 15.7% year on year, in line with analyst expectations. It was a weak quarter for the company, with declining number of users and a slow revenue growth. The company reported 6.89 million service requests, down 4.56% 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 11.8% year on year to $432.8 million, in line with the 12.6% 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 two upward 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 consumer internet segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. Lyft delivered top-line growth of 43.7% year on year, beating analyst estimates by 3.5% and Uber reported revenues up 136% year on year, exceeding estimates by 12.3%. Lyft traded down 25% on the results, and Uber was flat on the results. Read our full analysis of Lyft's results here and Uber's results here.

Tech stocks have been under pressure since the end of last year and consumer internet stocks have been swept alongside with it, with share price down on average 23% over the last month. Angi is down 20.8% during the same time, and is heading into the earnings with analyst price target of $11, compared to share price of $4.48.

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.