ANGI - 3 Key Growth Drivers to Watch for ANGI Homeservices
ANGI Homeservices (NASDAQ: ANGI) stock was pulling back after its latest earnings report, falling as much as 8% on Thursday. Its results were similar to analyst expectations with revenue rising 12% to $359.3 million, while adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA) fell 23% to $42 million as the company invested in its fixed-price product. Still, investors may have expected more from the quarter as the stock jumped ahead of the report.
The parent of HomeAdvisor and Angie's List has struggled during the pandemic with revenue growth hovering around 10%, down from its long-term growth target of 20%. Demand on its homeservices marketplace has been strong, but supply hasn't kept up due to pandemic-related challenges related to supply chain and labor, as well as volatility in individual categories. However, during the crisis, ANGI has been making a number of key investments that should pave the way to long-term growth and help the company accelerate that growth once the pandemic ends.
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3 Key Growth Drivers to Watch for ANGI Homeservices