ANGI - Why the ANGI Homeservices Sell-Off Could Be a Buying Opportunity
Shares of ANGI Homeservices (NASDAQ: ANGI) have fallen recently despite a solid second-quarter earnings report. Investors were rattled by what seemed to be a slowdown in July after a strong rebound in May and June, but that was an illusion. Dig into the numbers and you'll find ANGI's opportunity here is just as strong as ever.
Revenue increased 9% to $375.1 million, easily beating estimates at $363.4 million, and service requests rose 18% to 9.4 million, its highest in a quarter since at least 2018. The company added record levels of new service providers to its platform in the last few months with 53% growth in July alone.