Canaccord Genuity Maintains a 'Buy' on Angie's List (ANGI); Raising Estimates on Strong Q1
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Price: $4.92 +7.89%
Rating Summary:
12 Buy, 21 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 21 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Angie's List (NASDAQ: ANGI) price target of $20.00.
Analyst, Michael Graham, said, "ANGI reported solid Q1 results that reinforce our positive long-term view. Marketing spending will expand in Q2, slightly pressuring margins but signalling faster member growth. We continue to like the visibility inherent in the business model and believe the company is on track for profitability in 2014."
"We have slightly raised our revenue estimates for 2012 and 2013. Our price
target of $20 remains unchanged and is based on 30x our 2015 pro forma EPS
estimate of $1.05 (previously $1.03), discounted to present at a rate of 12%."
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 $13.88 yesterday.
Analyst, Michael Graham, said, "ANGI reported solid Q1 results that reinforce our positive long-term view. Marketing spending will expand in Q2, slightly pressuring margins but signalling faster member growth. We continue to like the visibility inherent in the business model and believe the company is on track for profitability in 2014."
"We have slightly raised our revenue estimates for 2012 and 2013. Our price
target of $20 remains unchanged and is based on 30x our 2015 pro forma EPS
estimate of $1.05 (previously $1.03), discounted to present at a rate of 12%."
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 $13.88 yesterday.
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