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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
Wall Street
3 Sep 15 17:35:18
http://t.co/J58EN2ZaNJ IN PLAY: $GORO $ANGI $PEIX $ELED $AXAS $MWA $DYSL $CGNH $GLCNF $PGOL $CERS $EGY $MX $FBP http://t.co/fYXbcySg6z
Wall Street
3 Sep 15 17:15:19
http://t.co/J58EN2ZaNJ IN PLAY: $GORO $ANGI $PEIX $ELED $AXAS $MWA $DYSL $CGNH $GLCNF $PGOL $CERS $EGY $MX $FBP http://t.co/lMFBARUgU2
Irma Doucet
3 Sep 15 12:39:35
$ANGI Why Angie's List Inc. Stock Dropped 20% Today http://t.co/BnYiot6rG2
Nara
3 Sep 15 11:41:09
$HDRA $AMCF $ANGI $ACHI $GGAC $MVNR $SMAC $NADL Upcoming catalyst for GNSZ. Find details here: https://t.co/gv9He7HRvh
SFTW Investor App
3 Sep 15 06:54:46
SFTW Investor top undervalued stock list: $ANGI Angie's List, Inc. (SS: 82) http://t.co/vmM5OW6hgh
WKRB News
2 Sep 15 22:34:27
Angie's List Short Interest Down 11.0% in August $ANGI http://t.co/GlR5369erS
Peter Bardens
2 Sep 15 09:42:29
$ANGI Angies List, Inc. Analyst Rating Update http://t.co/jIxN82YBar
Dave
2 Sep 15 08:59:43
http://t.co/L46QQZciCc IN PLAY: $GORO $ANGI $PEIX $ELED $AXAS $MWA $DYSL $CGNH $GLCNF $PGOL $CERS $EGY $MX $FBP http://t.co/JhAINBiDK1
Vetr Ratings
2 Sep 15 08:56:45
Vetr users have upgraded Angie's List, Inc. to a BUY Rating (4 stars), giving $ANGI a target price of $5.50 http://t.co/AcLdOkJyV7
Activist Stocks
2 Sep 15 08:52:34
The Week That Was In Activism http://t.co/SM95zv1Clq $ANGI $LNG $ETH
Dave
2 Sep 15 08:49:34
http://t.co/L46QQZciCc IN PLAY: $GORO $ANGI $PEIX $ELED $AXAS $MWA $DYSL $CGNH $GLCNF $PGOL $CERS $EGY $MX $FBP http://t.co/LQqsXqqH09
Stocks News&Markets
2 Sep 15 05:33:03
$ANGI - Angie’s List to the Rescue: Free Consumer Survival Guide Covers Home, Auto, Property – even Pets http://t.co/wr9HBMtL5g
Breaking News
2 Sep 15 03:56:03
$CMT $ANGI: Hot Watch List: International Business Machines Corporation (NYSE …: http://t.co/w57pEFjrQE
Consumer News
1 Sep 15 22:50:22
Angie's List Short Interest Down 11.0% in August $ANGI http://t.co/YBJuEDGWRC #acn
US Banking News
1 Sep 15 22:47:32
Angie's List Short Interest Down 11.0% in August $ANGI http://t.co/b9klDkU09Y
Ticker Report
1 Sep 15 22:42:59
Angie's List Short Interest Down 11.0% in August $ANGI http://t.co/1mQ1T3SdIz
Dakota Financial
1 Sep 15 22:39:15
Angie's List Short Interest Down 11.0% in August $ANGI http://t.co/Bkkno4dpnb
Breaking News
1 Sep 15 22:39:02
$ANGI: Angie’s List Short Interest Down 11.0% in August (ANGI): http://t.co/OKAyF9cZwz
Breaking News Now
1 Sep 15 10:27:03
$ANGI: Angie’s List, Inc. (NASDAQ:ANGI) Analyst Rating in Focus: http://t.co/KLXxVhwS7a
John Turner
1 Sep 15 09:45:12
$ANGI Company Shares of Angies List, Inc. (NASDAQ:ANGI) Rally 12.28% http://t.co/3SdxMVGHlM
Irma Doucet
1 Sep 15 09:45:04
$ANGI Angies List, Inc. Analyst Rating Update http://t.co/xZEwFL3Aow
Capital Market Labs
1 Sep 15 09:37:48
Interactive Chart -> http://t.co/UxNgO3MLkj $ANGI Revenue is Growing. http://t.co/yJG0uDv1hR
Wall Street
1 Sep 15 09:22:22
http://t.co/J58EN2Hzp9 IN PLAY: $GORO $ANGI $PEIX $ELED $AXAS $MWA $DYSL $CGNH $GLCNF $PGOL $CERS $EGY $MX $FBP http://t.co/pbQGIyH8nK
Wall Street
1 Sep 15 09:22:05
http://t.co/J58EN2Hzp9 IN PLAY: $GORO $ANGI $PEIX $ELED $AXAS $MWA $DYSL $CGNH $GLCNF $PGOL $CERS $EGY $MX $FBP http://t.co/Fv0EColIk6
danrocks
1 Sep 15 08:42:51
Right now ANGI is number 103 for the largest percentage gain out of 250 stocks. $ANGI ANGI is up +12.31% in th http://t.co/6r9ZLNhyg0
Vetr Ratings
1 Sep 15 08:00:55
The majority of users on Vetr are bullish on Angie's List, Inc., indicating a HOLD Rating (3 stars) for $ANGI http://t.co/AcLdOkJyV7
clayton
1 Sep 15 07:42:43
ANGI 5.19 Angie's List Inc $ANGI added to my watch list. Right now with ANGI I am watching the last price 5.19 http://t.co/FBHSMAVaup
DailyStockPicks
1 Sep 15 07:35:51
$ANFI huge bounce play like $ACI. 100%+ upside potential P/E of 3 $GME $O $NTRS $ANGI $GVA $SGNT investors read http://t.co/L1jwUV6Bag
stockpucker
1 Sep 15 06:15:19
This Week In Activism http://t.co/Ipo3xH5dSK $FCX $ANGI
Hisurfexp
31 Aug 15 21:13:14
Ticker Type (1= aggressive 2= conservative) $XCO 1 $AMKR 1 $ANGI 1 $AXE 1 $BAK 1 $TPLM 1 $SMCI 1 $CVE 1 $RNET 1 $RIG 1 $GTE 1 $REXX 1 $WDC 1
dailystockplays.com
31 Aug 15 15:15:11
Over Ichimoku http://t.co/po77vNPDbH $DGAZ $LULU $ANGI $FSC $CFFN $EVC $FSIC $AXS $ACCO $OMI $BW $HTGC $PRIM $CCU $TMHC $XBIT $CALX $CBF
ProTradersNews
31 Aug 15 12:58:02
$ANGI: Angie’s List, Inc. (NASDAQ:ANGI) Given $4-$6 PT Range: http://t.co/rFV7exDeXq
Stocksguru99
30 Aug 15 19:28:14
Gains Over 2500% In one Trade.. Subscribe Here! http://t.co/n4FmW1UTLN .. $GWGH $RCPT $ANGI
Dave
30 Aug 15 15:58:27
http://t.co/L46QQZciCc IN PLAY: $GORO $ANGI $PEIX $ELED $AXAS $MWA $DYSL $CGNH $GLCNF $PGOL $CERS $EGY $MX $FBP http://t.co/8cHxcPmaCw
leahanne
30 Aug 15 15:55:36
_FIE.TO iShares Canadian Financial Monthly Income Fund Last Price http://t.co/97LEpLLVKA $_FIE.TO $ANGI $XLK $UWTI #_FIE.TO #share…
lookn4wins
30 Aug 15 15:53:34
XLF Financials Select Sector SPDR Last Price http://t.co/0MnrfQUsuI $XLF $ANGI $GMCR $GLD #XLF #stocks #stock
lookn4wins
30 Aug 15 15:52:38
UPRO ProShares UltraPro S&P 500 Volume http://t.co/yZJ46eYSva $UPRO $ANGI $ARIA $VNQI #UPRO #investing #stockmarket
clayton
30 Aug 15 15:50:36
VLTC Voltari Corp. 52Wk High http://t.co/ptU5eOmvkv $VLTC $CVS $ANGI $XLV #VLTC #stocks #investing
jim50
30 Aug 15 15:50:10
VTI Vanguard Total Stock Market ETF % Change http://t.co/uTjxr0XNwj $VTI $ANGI $DNR $AAV.TO #VTI #invest #stock
DennyT
30 Aug 15 15:47:42
TIP iShares Barclays TIPS Bond Fund Bid http://t.co/5tTgg9xd8N $TIP $ANGI $F $UUP #TIP #stocks #share
IH NASDAQ OMX
30 Aug 15 15:47:40
TSLA Tesla Motors Inc. Stock Message Board http://t.co/Yevbrm6bDO $TSLA $ANGI $DRT.TO $CVX #TSLA #tradeideas #stocks
Lucky Jimmy
30 Aug 15 15:47:36
TSLA Tesla Motors Inc. Stock Message Board http://t.co/0WdtOskjIB $TSLA $ANGI $DRT.TO $CVX #TSLA #tradeideas #stocks
nasdaqfan
30 Aug 15 15:47:35
TAN Guggenheim Solar ETF Message Board Posts http://t.co/Bm7E50D5U0 $TAN $AVGO $LL $ANGI #TAN #stockmarket #stocksTBEV High…
Lucky Jimmy
30 Aug 15 15:47:34
TAN Guggenheim Solar ETF Message Board Posts http://t.co/Pfb3F53vcu $TAN $AVGO $LL $ANGI #TAN #stockmarket #stocksTBEV High…
Rosner Stocks
30 Aug 15 15:47:21
TAN Guggenheim Solar ETF Message Board Posts http://t.co/RWpmE14vDo $TAN $AVGO $LL $ANGI #TAN #stockmarket #stocksTBEV High…
clayton
30 Aug 15 15:47:15
TAN Guggenheim Solar ETF Message Board Posts http://t.co/aQFgThIHl5 $TAN $AVGO $LL $ANGI #TAN #stockmarket #stocksTBEV High…
danrocks
30 Aug 15 15:47:10
TAN Guggenheim Solar ETF Message Board Posts http://t.co/KmOoCX3UHT $TAN $AVGO $LL $ANGI #TAN #stockmarket #stocksTBEV High…
IH NASDAQ OMX
30 Aug 15 15:44:13
OWOO One World Holdings Inc. EOD Data http://t.co/qeKmCbqI70 $OWOO $ANGI $NKE $BIOS #OWOO #share #stocks
PolgarStocks
30 Aug 15 15:44:12
PG Procter & Gamble Co. 52Wk Low http://t.co/LzI8gL5WbD $PG $F $ANGI $DGZ #PG #nasdaq #share
Investors Hangout
30 Aug 15 15:44:04
NUGT Direxion Daily Gold Miners Bull 3x Shares Short Sales http://t.co/n7lSUZOpoW $NUGT $ANGI $DBC $TAN #NUGT #stock #pennystocks
				
				
  +Follow October 3, 2013 12:23PM
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