Home services online marketplace ANGI (NASDAQ: ANGI) will be announcing earnings results this Tuesday after the bell. Here’s what to look for.
Angi missed analysts’ revenue expectations last quarter, reporting revenues of $248 million, down 10.9% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EBITDA estimates.
Is Angi a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Angi’s revenue to decline 8.6% year on year, improving from the 10.5% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Angi has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Angi’s peers in the consumer internet segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Fiverr’s revenues decreased 15.8% year on year, beating analysts’ expectations by 8.4%, and DoorDash reported revenues up 34%, topping estimates by 1.1%. Fiverr traded up 4.2% following the results while DoorDash was also up 5.6%.
Read our full analysis of Fiverr’s results here and DoorDash’s results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 2.1% on average over the last month. Angi is down 1.1% during the same time and is heading into earnings with an average analyst price target of $8 (compared to the current share price of $6.00).
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