ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Q4 Gig Economy Earnings Review: First Prize Goes to Angi (NASDAQ:ANGI)

ANGI Cover Image

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how gig economy stocks fared in Q4, starting with Angi (NASDAQ: ANGI).

The iPhone changed the world, ushering in the era of the “always-on” internet and “on-demand” services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech-enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away.

The 6 gig economy stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 2.5% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 13% since the latest earnings results.

Best Q4: Angi (NASDAQ: ANGI)

Created by IAC’s mergers of Angie’s List and HomeAdvisor, ANGI (NASDAQ: ANGI) operates the largest online marketplace for home services in the US.

Angi reported revenues of $267.9 million, down 10.8% year on year. This print exceeded analysts’ expectations by 5.3%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ number of service requests estimates.

Angi Total Revenue

Angi delivered the slowest revenue growth of the whole group. The company reported 3.63 million service requests, down 16.1% year on year. Unsurprisingly, the stock is down 11% since reporting and currently trades at $1.53.

Is now the time to buy Angi? Access our full analysis of the earnings results here, it’s free.

Uber (NYSE: UBER)

Notoriously funded with $7.7 billion from the Softbank Vision Fund, Uber (NYSE: UBER) operates a platform of on-demand services such as ride-hailing, food delivery, and freight.

Uber reported revenues of $11.96 billion, up 20.4% year on year, outperforming analysts’ expectations by 1.6%. The business had a satisfactory quarter with strong growth in its users but EBITDA in line with analysts’ estimates.

Uber Total Revenue

The market seems content with the results as the stock is up 1% since reporting. It currently trades at $70.47.

Is now the time to buy Uber? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Fiverr (NYSE: FVRR)

Based in Tel Aviv, Fiverr (NYSE: FVRR) operates a fixed price global freelance marketplace for digital services.

Fiverr reported revenues of $103.7 million, up 13.3% year on year, exceeding analysts’ expectations by 2.3%. Still, it was a slower quarter as it posted a decline in its buyers and EBITDA guidance for next quarter missing analysts’ expectations.

As expected, the stock is down 21.5% since the results and currently trades at $25.99.

Read our full analysis of Fiverr’s results here.

Upwork (NASDAQ: UPWK)

Formed through the 2013 merger of Elance and oDesk, Upwork (NASDAQ: UPWK) is an online platform where businesses and independent professionals connect to get work done.

Upwork reported revenues of $191.5 million, up 4.1% year on year. This result beat analysts’ expectations by 5.8%. Aside from that, it was a mixed quarter as it also logged EBITDA guidance for next quarter exceeding analysts’ expectations but a significant miss of analysts’ number of gross services volume estimates.

Upwork scored the biggest analyst estimates beat but had the weakest full-year guidance update among its peers. The company reported 832,000 active customers, down 2.2% year on year. The stock is down 19.1% since reporting and currently trades at $12.58.

Read our full, actionable report on Upwork here, it’s free.

DoorDash (NASDAQ: DASH)

Founded by Stanford students with the intent to build “the local, on-demand FedEx", DoorDash (NYSE: DASH) operates an on-demand food delivery platform.

DoorDash reported revenues of $2.87 billion, up 24.8% year on year. This print surpassed analysts’ expectations by 1.1%. More broadly, it was a mixed quarter as it also produced strong growth in its requests but EBITDA guidance for next quarter slightly missing analysts’ expectations.

The company reported 685 million service requests, up 19.3% year on year. The stock is down 6.5% since reporting and currently trades at $180.50.

Read our full, actionable report on DoorDash here, it’s free.


Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Join Paid Stock Investor Research

Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.