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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank
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To: jjs_ynot who wrote (2110)7/20/1999 11:38:00 PM
From: Neil_L  Read Replies (3) of 2414
 
A "friendlier" piece from Briefing.com:

Net.B@nk (NTBK) 27 1/8 -3 5/8: No big surprise in the market's reaction to Net.B@nk's earnings report, as company missed consensus estimate by one cent in reporting a Q2 gain of $0.03... But is the sell-off justified? First it is important to note that the NTBK mean estimate was derived from a relatively small field of analysts (5). Second, the range was $0.03-$0.04... Given the small sample size, a miss of this nature isn't that big a deal... Especially when you consider that company grew its account base over the first six months of the year by 114%... Like many Net companies, NTBK in the brand/customer building stage of its business... While the increased costs associated with this process weighs on near-term earnings growth, it is essential if a company wants to be a dominant player in its industry... Nevertheless, unlike most Net companies, NTBK remains profitable... Company expected to earn $0.15 for FY99 and $0.30 in FY00... Resulting p/e multiples of 181x and 90x confirm that the stock isn't cheap, but given long-term growth rate of 58%, we would argue that the stock isn't overly expensive either... Especially when you factor in takeover premium (NTBK oft mentioned as takeover candidate)... Technically, stock nearing key support in the 25-24 area... If this floor holds, look for NTBK to stage a solid near- to intermediate-term recovery to the 35-40 range. -- RW
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