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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 233.22+1.8%Nov 28 9:30 AM EST
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To: Olu Emuleomo who wrote (69975)7/27/1999 11:15:00 AM
From: Eric Wells  Read Replies (3) of 164684
 
>>Bot EBAY @ 101.

Olu - best of luck to you on your Ebay purchase. My view is that it EBAY will go lower. However, Deutsche Banc Alex Brown has a longer term bullish view on Ebay - the following is an excerpt from an article on today's TheStreet.com:

"Analysts at Deutsche Banc Alex. Brown wrote that eBay could trade lower over the next several sessions, but they see weakness as a buying opportunity. They reiterated a buy rating on the stock and a 12-month price target of 150."

"Deutsche Banc, which has done underwriting for eBay, also lowered eBay's third-quarter earnings estimates to 13 cents a share from 23 cents, but raised its revenue forecast to $58 million from $49 million. Lowered earnings estimates reflect the integration of the Butterfield & Butterfield and Kruse International acquisitions, along with expectations for increased marketing and infrastructure costs."

"Analysts also said eBay's well-publicized technical problems are likely behind it and did not appear to have a lasting impact. Morgan Stanley Dean Witter analyst Mary Meeker noted that the 1.8 million increase in registered users from the first to second quarters was as large as the increase for all of 1998."

Personally, I don't put much faith in price targets announced by investment banks - this is mainly due to my lingering bitterness over my purchase of YHOO in the 220s earlier this year - I was motivated to make this purchase because I had read that more than one investment bank had a price target of 300 for YHOO - and well, I didn't want to miss the boat. I sold YHOO in the 170s.

Thanks - and good luck to you.
-Eric
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