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Angie’s List (ANGI) Plummets 16 Percent After Slashing Membership Costs

  +Follow October 3, 2013 12:23PM
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In a bid to attract customers to their contractor-review site, on Oct. 3 Angie’s List Inc. (ANGI) unexpectedly cut membership costs in 75 percent of markets, lowering the cost of an annual membership from $40 to $10. The price slash comes mere days after CTO Manu Thapar abruptly left, shaking investor confidence in the tech company.

Analysts, however, remain bullish on the Indianapolis-based site. 13 out of 20 analysts polled by Thompson Reuters give the stock a rating of "buy," and the consensus price target remains 40 percent higher than the current price.

Investors feel much differently. 37.91 percent of the float on the stock is being sold short, the highest rate of any stock currently being traded on the US markets.

Even before the membership price slash and Thapar’s departure, Angie's List bears had questioned the sustainability of a site that is increasingly losing market share to the wildly popular Yelp Inc. (YELP) . On In their Sept. 10 article “Ain’t it Time to Say Goodbye to Angie’s List” Forbes writer David Trainer pointed out that the company has never made a profit, and is doomed by “its complete lack of profitability and shaky business model.”

CEO William Oestrele has waved off fears that the company is slipping, claiming the new membership model is merely a test as executives continue "trying to understand the impact on member acquisition and retention." Investors, however, are clearly worried that it the move is less likely experimentation and more likely necessity prompted by slipping membership rates.

Despite analyst bullishness that puts a consensus price target of $29 a share on Angie’s List, for now the market is definitely skittish on the stock. The stock plummeted 16.25 percent to hit $17.58 a share.

 

(image courtesy fo Flickr)

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Results for ANGI
Bilo Selhi
3 Jul 15 18:50:15
http://t.co/uAcamNRUPt alerted $WATT +17% MUST SEE Track Record http://t.co/O6HUpmmIkV $AGTC $ANGI $RGSE $ARO $ORMP
12Stocks.com
3 Jul 15 16:04:06
Smallcap #Stocks Performance $XOOM $AGTC $WG $HELI $ISH $ANGI $IO $MDCO $TCPI $ARO $GTLS $BPTH $VRNG more@ http://t.co/Giravo3fg9
12Stocks.com
3 Jul 15 13:01:54
Smallcap #Stocks Performance $XOOM $AGTC $WG $HELI $ISH $ANGI $IO $MDCO $TCPI $ARO $GTLS $BPTH $VRNG more@ http://t.co/Giravo3fg9
Sentiquant
3 Jul 15 12:00:01
#volumeshiftup $WHF $AGTC $OPTT $NSAM $FF $ICN $WU $ABM $NI $ANGI #sentiquant 20150703 15:00:05:183
Sentiquant
3 Jul 15 11:00:01
#volumeshiftup $WHF $AGTC $NSAM $FF $ICN $WU $ABM $ANGI $SSL $NI #sentiquant 20150703 14:00:05:663
Mark Trader
3 Jul 15 10:02:48
100% non-compensated picks at http://t.co/R6BGOmTldH. That is awesome. Related: $ANGI $WTW $SUWN $FARE $FXCM $AMKR
Mark Trader
3 Jul 15 10:02:31
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Sentiquant
3 Jul 15 09:00:02
#volumeshiftup $WHF $NSAM $ICN $ANGI $WU $IPG $XOOM $DVY $VNM $NI #sentiquant 20150703 12:00:05:874
12Stocks.com
3 Jul 15 08:53:22
Smallcap #Stocks Performance $XOOM $AGTC $WG $HELI $ISH $ANGI $IO $MDCO $TCPI $ARO $GTLS $BPTH $VRNG more@ http://t.co/Giravo3fg9
Bilo Selhi
3 Jul 15 08:25:48
http://t.co/uAcamNRUPt alerted $QQQ +65% http://t.co/taT42kXzsl SEE TRACK RECORD http://t.co/W3gditBjAt $AGTC $ANGI $RGSE $ARO $ORMP $ACI
Bilo Selhi
3 Jul 15 08:01:45
Bilo Selhi alerted $CAPN +30% http://t.co/W3gditBjAt SEE TRACK RECORD http://t.co/8JixOZHNV3 $AGTC $ANGI $RGSE $ARO $ORMP $ACI $LLNW
Bilo Selhi
3 Jul 15 07:49:40
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Bilo Selhi
3 Jul 15 07:37:38
Members alerted to $EYES +16% http://t.co/W3gditBjAt SEE TRACK RECORD http://t.co/p6wJgmBBDT $AGTC $ANGI $RGSE $ARO $ORMP $ACI $LLNW
Bilo Selhi
3 Jul 15 07:25:36
Subscribers alerted to $JRJC +19% http://t.co/W3gditBjAt SEE TRACK RECORD http://t.co/JthrNbzdrc $AGTC $ANGI $RGSE $ARO $ORMP $ACI $L
Sentiquant
3 Jul 15 07:00:01
#volumeshiftup $WHF $NSAM $ICN $ANGI $DVY $VNM $XOOM $WU $CYB $HSBC #sentiquant 20150703 10:00:05:512
Sentiquant
3 Jul 15 06:25:00
#volumeshiftup $WHF $NSAM $ICN $ANGI $DVY $VNM $WU $CYB $XOOM $LVLT #sentiquant 20150703 09:25:04:391
Bilo Selhi
3 Jul 15 06:01:26
http://t.co/W3gditBjAt members alerted to $MDBX +29% See track record and join today http://t.co/488Edhr2TL $AGTC $ANGI $RGSE $ARO $
Bilo Selhi
3 Jul 15 05:49:23
http://t.co/uAcamNRUPt members alerted to short $YHOO +268% on March Puts http://t.co/8ZUbq0vSqw $AGTC $ANGI $RGSE $ARO $ORMP
Bilo Selhi
3 Jul 15 05:37:23
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Bilo Selhi
3 Jul 15 05:01:22
Subscribers alerted to $APT +23% http://t.co/W3gditBjAt SEE TRACK RECORD http://t.co/vqljuIo00m $AGTC $ANGI $RGSE $ARO $ORMP
Sentiquant
3 Jul 15 05:00:04
#volumeshiftup $WHF $NSAM $ANGI $DVY $VNM $CYB $XOOM $LVLT $EWA $HSBC #sentiquant 20150703 08:00:07:600
Bilo Selhi
3 Jul 15 04:13:19
http://t.co/uAcamNRUPt alerted $WATT +17% http://t.co/O6HUpmmIkV See Track Record $AGTC $ANGI $RGSE $ARO $ORMP $ACI $LLNW
Bilo Selhi
3 Jul 15 04:01:18
http://t.co/uAcamNRUPt alerted $GEVO +36% http://t.co/RNVZo858P6 See Track Record $AGTC $ANGI $RGSE $ARO $ORMP $ACI $LLNW
Stock_Tracker
3 Jul 15 03:51:16
VTMB Vitamin Blue, Inc. Short Sales http://t.co/s2rfya1jov $VTMB $ANGI $EEM $UUP #VTMB #nasdaq #pennystocks
leahanne
3 Jul 15 03:51:10
XLK Technology Select Sector SPDR Tick http://t.co/lJGANDnOnM $XLK $TNA $ANGI $CCI #XLK #investing #share
IH News Desk
3 Jul 15 03:50:07
VRX Valeant Pharmaceuticals Intl, Inc. Last Trade http://t.co/RcoBQ1acng $VRX $ANGI $USO $FV #VRX #finance #pennystocks
Bilo Selhi
3 Jul 15 03:49:18
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PolgarStocks
3 Jul 15 03:48:35
TSLA Tesla Motors Inc. Shares http://t.co/GSqR0eQEmL $TSLA $BAC $ABX $ANGI #TSLA #nasdaq #stock
danrocks
3 Jul 15 03:48:23
TBT ProShares UltraShort 20+ Year Treasury Day Low http://t.co/HrkPzzuMv3 $TBT $RAD $ANGI $EWQ #TBT #pennystocks #stockmarket
Stock_Tracker
3 Jul 15 03:45:36
RSP Guggenheim S&P 500 Equal Weight ETF Open http://t.co/cr5aDQRKKm $RSP $FDGRX $ANGI $CEF #RSP #share #stockmarket
danrocks
3 Jul 15 03:45:20
RCD Guggenheim S&P 500 Equal Weight Consumer Discretionary ETF Last Price http://t.co/OtHERGVWsJ $RCD $VLS.L $OPK $ANGI #RCD #stock…
Rosner Stocks
3 Jul 15 03:45:14
MSTX Mast Therapeutics, Inc. Last Price http://t.co/NXcEDNtubt $MSTX $ANGI $GDX $AHS #MSTX #stockmarket #stockmarket
IH NASDAQ OMX
3 Jul 15 03:45:14
PVSP Pervasip Corp. Filings http://t.co/nH8vne1Cwm $PVSP $IYT $IWM $ANGI #PVSP #investing #stock
Investors Hangout
3 Jul 15 03:44:11
NEM Newmont Mining Corp. 52Wk Low http://t.co/ThHoilo4MY $NEM $UPS $ANGI $USO #NEM #investing #tradeideas
IH NASDAQ OMX
3 Jul 15 03:43:09
MAHSCOOTER.IN Maharashtra Scooters Ltd. Stock Forum http://t.co/n1Kx2EHWiD $MAHSCOOTER.IN $ANGI $ELD.TO $PVSP #MAHSCOOTER.IN…
nicholas
3 Jul 15 03:43:09
IHPosts: ITB iShares Dow Jones U.S. Home Construction Ideas http://t.co/wrUDUhOJc6 $ITB $ANGI $BLRX $AER #ITB #… http://t.co/Z2kvWG3C1I
nicholas
3 Jul 15 03:43:07
IHNewsDesk: HSY Hershey Foods Corp. Filings http://t.co/4VUIxnpAuB $HSY $MON $CI $ANGI #HSY #finance #nasdaq re… http://t.co/Z2kvWG3C1I
Stock_Tracker
3 Jul 15 03:42:38
IYT iShares DJ Transportation Average Index Fund Chart http://t.co/ntyaP6tUfc $IYT $ANGI $XOM $DIA #IYT #share #pennystocks
IH NASDAQ OMX
3 Jul 15 03:42:24
IWM Russell 2000 iShares % Change http://t.co/Q7phq60qwF $IWM $MAHSCOOTER.IN $ANGI $CI #IWM #stock #tradeideas
Investors Hangout
3 Jul 15 03:42:17
ITB iShares Dow Jones U.S. Home Construction Ideas http://t.co/ZVxtlQyBnj $ITB $ANGI $BLRX $AER #ITB #finance #stock
PolgarStocks
3 Jul 15 03:42:14
INT.V Intertainment Media Inc. Current Price http://t.co/2jbPTmrhvo $INT.V $ANGI $CNR.TO $BAC #INT.V #share #investing
IH News Desk
3 Jul 15 03:42:11
HSY Hershey Foods Corp. Filings http://t.co/TlQeAqFuEa $HSY $MON $CI $ANGI #HSY #finance #nasdaq
Investors Hangout
3 Jul 15 03:41:08
GPOR Gulfport Energy Corp. Prev Close http://t.co/K2u8qGKHRM $GPOR $MMMW $CLF $ANGI #GPOR #stocks #share
lookn4wins
3 Jul 15 03:39:39
FNMA Federal National Mortgage Bid http://t.co/oGm4tRDM4w $FNMA $INT.V $ANGI $RDSH #FNMA #invest #stocks
Emylers
3 Jul 15 03:39:14
EWZ Brazil iShares Day High http://t.co/DwRpf6wHek $EWZ $ANGI $SDLP $TZA #EWZ #tradeideas #stockmarket
IH NASDAQ OMX
3 Jul 15 03:38:08
DRV Direxion Daily Real Estate Bear 3x Shares Prev Close http://t.co/3XWvEHyuOe $DRV $AIG $GDX $ANGI #DRV #nasdaq #invest
DennyT
3 Jul 15 03:37:35
ELD.TO Eldorado Gold Corp. Prev Close http://t.co/ebl90b9Mup $ELD.TO $AMD $ANGI $MON #ELD.TO #finance #pennystocks
Jake13
3 Jul 15 03:36:10
DIA SPDR DJ Industrial Average ETF Trust Volume http://t.co/EQDgVVXem2 $DIA $GILD $ANGI $BSX #DIA #finance #investing
Stock_Tracker
3 Jul 15 03:35:08
COW iPath Bloomberg Livestock Subindex Total Return ETN Filings http://t.co/M9uaOPn7HI $COW $ANGI $VXX $IEF #COW #stock #invest
danrocks
3 Jul 15 03:34:38
CMCSA Comcast Corp. Message Board Posts http://t.co/f4CHd1qt7R $CMCSA $DRNK $EQB.TO $ANGI #CMCSA #nasdaq #stock
				
				
  +Follow October 3, 2013 12:23PM
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