UPDATE: Barrington Research Starts Angie's List (ANGI) at Market Perform; Looking For Profitability

August 27, 2012 8:43 AM EDT Send to a Friend
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Price: $6.70 --0%

Rating Summary:
    3 Buy, 16 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 18 | New: 36
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(Updated - August 27, 2012 10:28 AM EDT)

Barrington Research initiates coverage on Angie's List (NASDAQ: ANGI) with a Market Perform.

Analyst, Jeff Houston, said, "We like Angie’s 17 year track record, revenue visibility, differentiated offering, ability to increase advertising prices, and operating leverage potential. But, we worry that Angie could be forced into premature profitability as it burns through cash and is unable to raise more (without significant dilution) given its depressed stock price. Despite the recent social-media sell-off (which may discount our concern), we are initiating with a MARKET PERFORM investment rating as the stock could be range bound until there is some clarity around this issue; at which point we will revisit our rating."

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 $9.69 yesterday.


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