Manugistics, Inc. (MANU) Message Board

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Technology Stocks : Manugistics, Inc. (MANU)

MANU 17.34

+2.1%

Feb 6 9:30 AM EST

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To: Jerome A. Johnson who wrote ()	5/24/1998 8:30:00 AM
From: Pat Lewis	of 1670

My opinion and my brokers for your info: Prudential securities predicts trading range of 22 - 25 & a change in method to value stock. IMO it may impact the way Mutual fund's look at MANU long term. Reminds me of Iomega, Prestek, & other high flyers. Prudential securities Investment Opinion: 05/22/98 at $30 We rate MANU a HOLD for the following reasons: * Following the company's preannouncement of a shortfall in the first (May) quarter, we expect a shift in the company's valuation. Rather than trading off of future revenues, we expect the stock to trade at a multiple of 3 to 4 times trailing revenues. This would imply a trading range of $20-$26 per share. * While the market for supply chain management software remains strong, the company is experiencing difficulties making the transition from a point product supplier to a full-suite provider. In addition, the rapid ramp up in the sales force has created the need to realign sales territories. We believe these factors are stretching out the sales cycle, meaning the company is taking even longer to close deals than their previous six to nine month range. * We believe it will take Manugistics several quarters to resolve the issues with their sales force. During this time, the company will be vulnerable as several of the more established enterprise software vendors come to market with their own supply chain management solutions. Prudential Securities Incorporated and/or its officers or its employees may have positions in any security of this issuer. Prudential Securities Incorporated makes a market in this security.

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