CheckFree Holdings Corp. (CKFR), the next Dell, Intel? Message Board

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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?

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To: zuma_rk who wrote (9040)	8/11/1999 2:26:00 PM
From: CAPT TONY	Read Replies (1) of 20297

For those keeping track: CKFR: Q4:99 Solid and Yahoo Launch on the Way 01:45pm EDT 11-Aug-99 Pacific Growth Equities (Olson, Stephen 4152746880) CKFR August 11, 1999 CheckFree Corporation Steve Olson, CFA (415) 274-6880 solson@pacgrow.com CKFR: Q4:99 Solid and Yahoo Launch on the Way CKFR: Nasdaq Buy 12 Mo. Target Price: $65 Price $26 Price Range $5.75-69.13 Shares (millions) 56.8 Market Capitalization (millions) $1,477 Average Daily Volume (000) 785 Summary and Investment Recommendation: * CheckFree reported Q4:99 above expectations. Revenue was $70.8 million (or $71.6 million excluding a charge against revenue for the service outage in the quarter), compared to our forecast of $66.9 million. Operating EPS were $0.05, better than our forecast of $0.03 due to the strong top line. The subscriber base grew 6% sequentially to just under three million, just shy of our 6.5% target. * The Company indicated that Yahoo is on track to go live in the September quarter following the internal pilot currently taking place; we expect a phased rollout taking several months to hit full stride. The service will likely be offered for free for 2-3 months to stimulate adoption. * We are reiterating our BUY rating. We continue to view CheckFree as one of the most solid franchises in electronic commerce. We believe investors should focus on two engines that are revving up to accelerate growth for CheckFree; the new distribution channel through Internet portals and the momentum building for electronic bill presentment. We expect these emerging forces to bring electronic billing across the threshold from early adopters to mainstream use. CaptT

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