INSS - International Network Services Message Board

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Technology Stocks : INSS - International Network Services

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To: Phillip Biffle who wrote (66)	3/27/1997 10:51:00 AM
From: Trevor Goodchild	of 446

The company is fundamentally sound and derives most of its revenues via consulting. There is nothing fundamentally wrong with this company other than post IPO over-valuation. I expect it to continue to grow revenues but I don't valuate it as a Network product stock as it is usually classified or grouped. INSS is a servicer. It is partly owned by Cisco and Cisco and INSS are teamed up on some projects with INSS handling the manpower. Companies like INSS whose assets are primarily people and whose revenues are easily projected by counting heads and multiplying by billing rates can be cash cows but their product is homogenous. Anyone can start a company and hire engineers as consultants. When the company was trading at forward PE mutiples over 200, it was just caught up in the hype of the internet. This company is a volatile short term play. It could trend down to its fair market value as it has been doing or it could move up fast and furious if even one MM decides to take a position. One thing I do know, the analysts following this stock are either stupid or have self-serving motives. Remember, they're sell-side market makers. Good luck.

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