UPDATE - Canaccord Genuity Initiates Coverage on Angie's List (ANGI) with a Buy; Strong Margins in Mature Markets
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Price: $22.99 -4.33%
Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade ANGI Now!
UPDATE - Canaccord Genuity initiates coverage on Angie's List (Nasdaq: ANGI) with a Buy. PT $20.
Analyst, Michael Graham, said, "In ANGI’s most mature markets, we believe EBITDA margins are as high as 40-50%, with scope to move higher. Over time, we believe more recent market launches will approach these levels, leading to a business that is more profitable than most investors currently appreciate."
"We project losses through 2013, which could lead to stock volatility. The competitive landscape could intensify with well-funded competitors like Yelp (Nasdaq; YELP) and ServiceMagic. Angie’s must employ a fairly large local sales force, which could impede evolution of operating leverage."
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Analyst, Michael Graham, said, "In ANGI’s most mature markets, we believe EBITDA margins are as high as 40-50%, with scope to move higher. Over time, we believe more recent market launches will approach these levels, leading to a business that is more profitable than most investors currently appreciate."
"We project losses through 2013, which could lead to stock volatility. The competitive landscape could intensify with well-funded competitors like Yelp (Nasdaq; YELP) and ServiceMagic. Angie’s must employ a fairly large local sales force, which could impede evolution of operating leverage."
To see more ratings on ANGI, Click Here
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