Home services online marketplace ANGI (NASDAQ:ANGI)
will be announcing earnings results tomorrow after the bell. Here’s what investors should know.
Angi beat analysts’ revenue expectations by 3.5% last quarter, reporting revenues of $315.1 million, down 10.4% year on year. It was a mixed quarter for the company: Angi beat analysts’ revenue and service request expectations this quarter, but we note that sales and service requests (growth indicator) declined. It reported 4.94 million service requests, down 28% year on year.
Is Angi a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Angi’s revenue to decline 15.6% year on year to $296.3 million, improving from the 29.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Angi has missed Wall Street’s revenue estimates six times over the last two years.
Read our full analysis of Lyft’s results here and Upwork’s results here.
There has been positive sentiment among investors in the gig economy segment, with share prices up 11% on average over the last month. Angi is up 2% during the same time and is heading into earnings with an average analyst price target of $3.68 (compared to the current share price of $2.54).
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