Canaccord Genuity Morning Coffee on Angie's List (ANGI): I Wonder if Angie Knows Craig
Tweet
Share
E-mailGet Alerts ANGI Hot Sheet
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
Join SI Premium – FREE
Canaccord Genuity Morning Coffee on Angie's List (Nasdaq: ANGI): I wonder if Angie knows Craig.
Angie’s List traded lower Thursday (and flat this morning) after Canaccord Genuity Technology Analyst Michael Graham downgraded the stock to a neutral rating and cut his target price. After re-visiting key model assumptions, he believes Angie’s List may stay in investment mode for longer than originally anticipated. Graham now forecasts EPS profits in 2015 (previously 2014) on higher selling and marketing spend and slightly higher member churn. He continues to believe Angie’s List is building a sustainable model, but believes delayed profitability may dampen near-term stock appreciation potential. Graham believes heavy short interest (~ 25% of float) and the completion of recent VC distributions may contribute to nearterm volatility, while longer term investors may puzzle over how to think about cash consumption vs. growth and the potential need for capital. Going forward, Graham’s EBITDA estimates for 2012, 2013, & 2014 go from $(53.7) million, $(31.2) million, and $23.7 to $(54.5) million, $(32.9) million, and $3.0 million.
Angie’s List traded lower Thursday (and flat this morning) after Canaccord Genuity Technology Analyst Michael Graham downgraded the stock to a neutral rating and cut his target price. After re-visiting key model assumptions, he believes Angie’s List may stay in investment mode for longer than originally anticipated. Graham now forecasts EPS profits in 2015 (previously 2014) on higher selling and marketing spend and slightly higher member churn. He continues to believe Angie’s List is building a sustainable model, but believes delayed profitability may dampen near-term stock appreciation potential. Graham believes heavy short interest (~ 25% of float) and the completion of recent VC distributions may contribute to nearterm volatility, while longer term investors may puzzle over how to think about cash consumption vs. growth and the potential need for capital. Going forward, Graham’s EBITDA estimates for 2012, 2013, & 2014 go from $(53.7) million, $(31.2) million, and $23.7 to $(54.5) million, $(32.9) million, and $3.0 million.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Deere (DE) PT Raised to $585 at JPMorgan
- Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson
Create E-mail Alert Related Categories
Analyst Comments, DowngradesRelated Entities
Canaccord GenuitySign 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!
