Home services online marketplace ANGI (NASDAQ: ANGI) will be reporting results this Tuesday after market hours. Here’s what you need to know.
Angi missed analysts’ revenue expectations last quarter, reporting revenues of $238.2 million, down 3.2% 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 8.3% year on year, improving from the 11.7% 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 Q2 results, giving us a hint as to what we can expect. Fiverr’s revenues decreased 10% year on year, missing analysts’ expectations by 1.7%, and Alphabet reported revenues up 24.2%, topping estimates by 2.2%. Fiverr traded down 20.8% following the results while Alphabet was also down 7.1%.
Read our full analysis of Fiverr’s results here and Alphabet’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the consumer internet stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.2% on average over the last month. Angi is down 9.4% during the same time and is heading into earnings with an average analyst price target of $9.60 (compared to the current share price of $5.63).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
