UPDATE: Canaccord Genuity Downgrades Angie's List (ANGI) to Hold; Profitability Delayed
Tweet Send to a FriendGet Alerts ANGI Hot Sheet
Price: $26.50 --0%
Rating Summary:
10 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
10 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Trade ANGI Now!
(Updated - August 30, 2012 8:44 AM EDT)
Canaccord Genuity downgraded Angie's List (NASDAQ: ANGI) from Buy to Hold with a price target of $12.50 (from $20.00).
Analyst, Michael Graham, said, "After re-visiting key model assumptions, we believe Angie’s List may stay in investment mode for longer than originally anticipated. We now forecast EPS profits in 2015 (previously 2014) on higher selling and marketing spend and slightly higher member churn. We continue to believe Angie’s List is building a sustainable model, but believe delayed profitability may dampen near-term stock appreciation potential."
"We believe heavy short interest (~ 25% of float) and the completion of recent VC distributions may contribute to near-term volatility, while longer term investors may puzzle over how to think about cash consumption vs. growth and the potential need for capital...our EBITDA estimates for 2012, 2013, & 2014 go from $(53.7)M, $(31.2)M, and $23.7 to $(54.5)M, $(32.9)M, and $3.0M."
For an analyst ratings summary and ratings history on Angie's List click here. For more ratings news on Angie's List click here.
Shares of Angie's List closed at $10.22 yesterday, with a 52 week range of $8.98-$19.82.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Canaccord Genuity downgraded Angie's List (NASDAQ: ANGI) from Buy to Hold with a price target of $12.50 (from $20.00).
Analyst, Michael Graham, said, "After re-visiting key model assumptions, we believe Angie’s List may stay in investment mode for longer than originally anticipated. We now forecast EPS profits in 2015 (previously 2014) on higher selling and marketing spend and slightly higher member churn. We continue to believe Angie’s List is building a sustainable model, but believe delayed profitability may dampen near-term stock appreciation potential."
"We believe heavy short interest (~ 25% of float) and the completion of recent VC distributions may contribute to near-term volatility, while longer term investors may puzzle over how to think about cash consumption vs. growth and the potential need for capital...our EBITDA estimates for 2012, 2013, & 2014 go from $(53.7)M, $(31.2)M, and $23.7 to $(54.5)M, $(32.9)M, and $3.0M."
For an analyst ratings summary and ratings history on Angie's List click here. For more ratings news on Angie's List click here.
Shares of Angie's List closed at $10.22 yesterday, with a 52 week range of $8.98-$19.82.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Canaccord Genuity Starts T-Mobile US, (TMUS) at Hold
- Standpoint Research Downgrades Perry Ellis (PERY) to Hold
- KeyBanc Downgrades Sanderson Farms (SAFM) to Hold
Create E-mail Alert Related Categories
DowngradesRelated Entities
Canaccord Genuity
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
