Needham & Company reiterated a Buy rating on Angie's List (NASDAQ: ANGI) and raiesd its price target from $25 to $30 following Q2 earnings. The firm is telling clients to Buy on weakness.

Analyst Kerry Rice said, "We view the current weakness in Angie’s shares as a buying opportunity. We believe management is pulling the correct levers to improve marketing yield while driving strong revenue growth. We believe the strong growth across cohorts and improving cash flow generation is evidence of the company’s efforts. Looking ahead, we expect heightened engagement levels coupled with the network effect to continue benefiting the addition and retention of members and service providers. We are raising our revenue estimates and expect Angie’s to continue improving its marketing efficiencies, ultimately driving the company to profitability in 2014."

The firm raised FY 2013 EPS from ($0.36) to ($0.34).

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 $26.50 yesterday, with a 52 week range of $8.94-$28.32.

Analyst Comments Analyst EPS Change Analyst EPS View Analyst PT Change

Raymond James Downgrades Angie's List (ANGI) to OutperformJuly 25, 2013 7:58 AM Angie's List (ANGI) Reports In-Line Q2 EPSJuly 24, 2013 4:33 PM