Angie’s List Rating Reiterated by Stifel Nicolaus (ANGI)
Angie’s List (NASDAQ:ANGI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Stifel Nicolaus in a research note issued to investors on Thursday, Analyst Ratings Network.com reports. They currently have a $25.00 price target on the stock, down from their previous price target of $31.00. Stifel Nicolaus’ price target indicates a potential upside of 61.81% from the stock’s previous close.
The analysts wrote, “We believe that ANGI shares have begun the bottoming process, but the process may take a while. The quarterly results were adequate, and better than feared. Member growth was not the key issue. Instead, it was a light service provider (advertiser) count, which appears to be due to sales force expansion and productivity issues. Guidance for 4Q came in below prior estimates. Accordingly, our estimates have been trimmed for 4Q and 2014 — leading to a lower target price of $25, down from $31 prior. Maintain BUY. We believe shares will rally as business model efficiency improves.”
ANGI has been the subject of a number of other recent research reports. Analysts at Northland Capital Partners cut their price target on shares of Angie’s List from $33.00 to $25.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Angie’s List from $29.00 to $24.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at B. Riley downgraded shares of Angie’s List from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.55.
Shares of Angie’s List (NASDAQ:ANGI) traded down 2.98% during mid-day trading on Thursday, hitting $14.99. The stock had a trading volume of 2,826,768 shares. Angie’s List has a 1-year low of $8.94 and a 1-year high of $28.32. The stock has a 50-day moving average of $21.98 and a 200-day moving average of $22.60. The company’s market cap is $875.2 million.
Angie’s List (NASDAQ:ANGI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.20) by $0.03. The company had revenue of $65.50 million for the quarter, compared to the consensus estimate of $66.05 million. During the same quarter last year, the company posted ($0.32) earnings per share. Angie’s List’s revenue was up 55.9% compared to the same quarter last year. On average, analysts predict that Angie’s List will post $-0.41 earnings per share for the current fiscal year.
In other Angie’s List news, CEO William Seelye Oesterle sold 25,600 shares of the stock on the open market in a transaction dated Friday, October 18th. The stock was sold at an average price of $15.23, for a total transaction of $389,888.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Angie’s List, Inc (NASDAQ:ANGI) operates a consumer-driven service for members to research, hire, rate and review local professionals for critical needs, such as home, health care and automotive services.
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