CIBC Begins Coverage on Angie’s List, Inc. (ANGI)
Equities research analysts at CIBC started coverage on shares of Angie’s List, Inc. (NASDAQ:ANGI) in a note issued to investors on Thursday. The brokerage set an “outperform” rating and a $14.00 price target on the technology company’s stock. CIBC’s price target would suggest a potential upside of 18.54% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $14.00 target price on shares of Angie’s List in a research note on Thursday. BidaskClub lowered shares of Angie’s List from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Zacks Investment Research lowered shares of Angie’s List from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Piper Jaffray Companies began coverage on shares of Angie’s List in a research note on Wednesday, August 16th. They issued an “overweight” rating and a $14.00 target price on the stock. Finally, Cowen and Company restated a “hold” rating and issued a $8.50 target price on shares of Angie’s List in a research note on Friday, July 14th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Angie’s List currently has a consensus rating of “Hold” and an average target price of $11.61.
Angie’s List (ANGI) traded down 1.35% during mid-day trading on Thursday, hitting $11.65. The stock had a trading volume of 251,307 shares. Angie’s List has a one year low of $5.22 and a one year high of $13.74. The stock’s market cap is $709.23 million. The company has a 50 day moving average price of $12.13 and a 200 day moving average price of $10.69.
Angie’s List (NASDAQ:ANGI) last issued its earnings results on Wednesday, July 26th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The company had revenue of $72.80 million during the quarter, compared to analyst estimates of $73.87 million. Angie’s List had a negative net margin of 4.62% and a negative return on equity of 392.52%. The business’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. On average, equities analysts anticipate that Angie’s List will post ($0.07) EPS for the current year.
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In related news, insider Bowman Angela R. Hicks sold 300,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $11.96, for a total transaction of $3,588,000.00. Following the sale, the insider now owns 670,413 shares in the company, valued at $8,018,139.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO J Mark Howell sold 134,901 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $11.62, for a total transaction of $1,567,549.62. Following the sale, the chief operating officer now owns 125,416 shares in the company, valued at approximately $1,457,333.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 831,364 shares of company stock worth $9,936,056. 18.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in Angie’s List by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 32,598 shares of the technology company’s stock worth $416,000 after acquiring an additional 216 shares during the period. State Street Corp raised its stake in Angie’s List by 6.5% during the second quarter. State Street Corp now owns 766,698 shares of the technology company’s stock worth $9,803,000 after acquiring an additional 47,008 shares during the period. Gotham Asset Management LLC acquired a new stake in Angie’s List during the second quarter worth about $513,000. Capital Research Global Investors acquired a new stake in Angie’s List during the second quarter worth about $37,217,000. Finally, Zacks Investment Management acquired a new stake in Angie’s List during the second quarter worth about $296,000. Hedge funds and other institutional investors own 82.25% of the company’s stock.
About Angie’s List
Angie’s List, Inc operates a national local services consumer review service and marketplace. As of December 31, 2016, the Company helped facilitate transactions between over five million members and its collection of service providers in over 700 categories of service nationwide. Its tools, services and content across multiple platforms enables consumers to research, shop for and purchase local services for needs, as well as rate and review the providers of these services across the United States.
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