Company did not provide specific financial guidance for the current or upcoming periods
Overview
U.S. home services marketplace's Q2 revenue fell 11% yr/yr, missing analyst expectations
Adjusted EBITDA for Q2 beat analyst expectations
Company repurchased $73.4 mln of 2028 Senior Notes, reducing outstanding debt
Analyst coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Angi Inc is $11.00, about 85.5% above its August 3 closing price of $5.93
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 6 three months ago
Result drivers and key details
Macroeconomic pressure - Co said revenue decline was due primarily to macroeconomic conditions reducing Pro spend and homeowner demand, especially in lower-consideration categories
- Large Pro and National Partnership Revenue grew 20% for the second consecutive quarter
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