Angie's List (ANGI +2.3%) trades higher after Northland starts coverage at Outperform, arguing...

|About: Angie's List, Inc. (ANGI)|By:, SA News Editor

Angie's List (ANGI +2.3%) trades higher after Northland starts coverage at Outperform, arguing investors the company's growth and margin potential more than offset its rising sales/marketing expenses. The firm notes service provider subscription renewals have an ~80% contributing margin, and that renewal rates for both service providers and members are above 70%. Also, Angie's estimated 2013 EV/sales multiple is at a 44% discount to its peer group's 4.5x.