NEW YORK (TheStreet) -- Shares of Angie's List (ANGI) - Get Report are lower by 6.67% to $7.28 in mid-morning trading Thursday, giving back some of its gains from yesterday's trading session following its stronger than expected fourth quarter earnings results. The stock was up nearly 50% in midday trading on Wednesday, before ending the day at $7.80.
The review website operator said its quarterly figures were helped by its fast-growing service revenue and lower marketing costs.
The company posted earnings of $15.3 million, or 26 cents per share for the fourth quarter, topping analysts' estimates of 22 cents per share. Revenue of $82.2 million was up 19% from a year ago, and also surpassed analysts' estimates of $81.22 million for the period.
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This morning, Deutsche Bank reiterated its "hold" rating with a $7 price target.
Indianapolis-based Angie's List runs a website that lets visitors research, rate and hire local businesses. The company operates as a subscriber model, allowing access to paid members, but is also in the process of transitioning to a marketplace model.