Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Angie's List (NASDAQ:ANGI) soared today by as much as 10% after an analyst initiated coverage on the stock at "overweight."

So what: Piper Jaffray gave the equivalent of a "buy" rating alongside a $25 price target, leading shares to rally to fresh 52-week highs on bullish analyst sentiment. The analyst believes that the company has both top- and bottom-line upside in the near-term, with revenue expected to grow at 34%.

Now what: Piper Jaffray's estimates are higher than the rest of the Street, which thinks sales will only grow by 25% in 2015. The analyst also cites Angie's List's scalability and local commerce leverage as additional reasons to be optimistic. Piper Jaffray is modeling for $74 million in EBITDA for 2015, also higher than consensus. The price target is derived from a 19 times EV/EBITDA multiple.

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