Angie’s List Inc Jumps 5% After Narrowing Losses

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Shares of Angie’s List Inc(NASDAQ:ANGI) are up more than 5% after the on-line, consumer-review site reported late Wednesday Q1 net loss narrowed to $0.06 per share from a loss of $0.14 for the same quarter last year, while revenues improved 39% to $72.7 million.

The Street expected a loss of $0.07 per share on revenue of $72.3 million, according to Capital IQ estimates. In addition, the company reported a 35% gain in new subscribers, while the number of service providers increased 26%. ANGI last traded at $13.51, with a 52-week range of $11.61 to $28.32. Just after the earnings release after the close on Wednesday, shares were up 4% in after-market trade.

Analysts have a consensus price target of $21 on Angie’s List Inc(NASDAQ:ANGI) which indicates a 69% upside. The consensus rating of the stock is a Hold with a score of 2.42. There are currently 9 Hold ratings, 1 sell rating and 9 Buy ratings on the stock. A recent analyst action consisted of RBC Capital lowering their price target from $21 to $18.

 

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