Boston, MA 10\/25\/2013 (wallstreetpr) –\u00a0Provider of consumer driven services like researches, hirings, ratings and reviews of local professionals,\u00a0Angie’s List Inc (NASDAQ:ANGI) has declared its results for the last quarter. And as far as the street is concerned, the results can be referred to as being completely listless.<\/p>\n
Company has been losing 23 cent per share in last quarter. This is even though company\u2019s revenue rose by 56% to $65.5 million. The company has also given a revenue guidance of $68 million when analyst community was expecting a forecast of more than $70 million.<\/p>\n
Company has an interesting business model as it allows both paying and non-paying users to rate local service providers and businesses. But as far as access to these ratings is concerned, only paid members get the privilege of using these ratings. And this is how company earns its revenues, which comes from subscription fees and advertising money paid by businesses which have higher ratings.<\/p>\n
Among the large rating agencies, Riley has gone ahead cut its rating for the stock to Neutral quoting company\u2019s performance below expectations. Company\u2019s shares after reaching a high of almost $28, have been stuck in a downward spiral and have almost halved in value to reach around $14.8 at current market prices.<\/p>\n
On technical fronts, it seems that market is feeling quite bearish about the stock as more than 36% of the float of the stock is sold short. This in technical parlance means a case of extreme bearishness. But it is also true that earnings estimate for the company have been inching upwards for last few quarters. Hence, any missing of targets does not always mean a case of poor results. It is quite possible as a few market participants are putting it, that estimates provided by so called experts are more optimistic than those provided by company itself. Hence, if one does have belief in company\u2019s business model, it may be a good time to accumulate this stock.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/25\/2013 (wallstreetpr) –\u00a0Provider of consumer driven services like researches, hirings, ratings and reviews of local professionals,\u00a0Angie’s List Inc (NASDAQ:ANGI) has declared its results […]<\/p>\n","protected":false},"author":15,"featured_media":11253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[260],"tags":[3713,3712,3710,3711],"stock_ticker":[],"class_list":["post-11252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advancers","tag-angi","tag-angies-list-inc","tag-angies-list-inc-nasdaqangi","tag-nasdaqangi","entry"],"acf":[],"yoast_head":"\n