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Technology Stocks : Modem Media . Poppe Tyson (Nasdaq: MMPT)
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To: speedbird who wrote (227)2/7/1999 5:13:00 PM
From: Mohan Marette  Read Replies (2) of 821
 
Look-Wrong PhD,bad PhD. [MMPT at same Valuation as DCLK=$115.00]

Based on data from Yahoo/S&P finance I come up with the following.

                            Modem Media    DoubleClick  

Annual sales(approx)       $ 43 mil (S&P)   $ 80 mil(company website)  
Shares outstanding(approx)    5 mil           19 mil
Sales/Share                $  9.00          $  4.00
Price/Sale                    5               23   
Stock price as of 2/5/99   $ 45.00          $ 92.50
Current Market Cap         $234 mil         $  1.76 Billion 

(PS:all numbers are approximations-

Applying the same Price/Sales valuation of DoubleClick to Modem Media the current price of MMTV should be 23x5 =$115.00

But to be conservative and go by what Standard & Poor's valuation of 13,the MMTV's current stock price should be $65.00

Excerpts from S&P:-
("The potential for the stock can be estimated by comparing MMPT to online ad leader DoubleClick, which was recently trading at 13 times annualized revenues. At half that multiple of the $43 million in revenues that I project MMPT had in 1998, it would have a market value of $280 million, about twice the market capitalization at which the offering is expected to be priced.")

In any case thanks for your input and like they say we shall see,probably as soon as tomorrow,stay tuned.
doubleclick.net
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