SAN FRANCISCO--(BUSINESS WIRE)--Oct. 18, 1999--Robertson Stephens
Senior eTailing Analyst Lauren Cooks Levitan today initiated coverage
of Ashford.com, Inc. (NASDAQ:ASFD.O) with a Buy rating. Ashford.com is a
one-stop shopping destination for luxury goods and premium products.
"We are initiating coverage of Asford.com with a Buy rating,"
said Levitan. "We believe the company has shown strong momentum during
its relatively short operating history, growing revenues sequentially
in every quarter from $296,000 in the quarter ended June 1998 to $3.6
million in the quarter ended June 1999."
"We expect positive announcements that we believe could act as
stock price catalysts including:
1. moves into related-product categories,
2. additional direct relationships with key vendors,
3. strategic partnerships or acquisitions and
4. encouraging reads on recent product extensions," said Levitan.
Clients interested in receiving more information should contact
their salesperson at (415) 781-9700.
BancBoston Robertson Stephens Inc. ("Robertson Stephens") is the
leading full-service investment bank focused exclusively on growth
companies. To date in 1999, the firm has completed over 130 public
offerings and over 30 private offerings, raising more than $26 billion
in capital for clients. The firm's 47 research analysts cover nearly
700 companies. Founded in 1978, Robertson Stephens is a section 20
subsidiary of Fleet Boston Corporation (NYSE: FLT.N) and a member of the
NASD and all major exchanges. Together, Robertson Stephens, BancBoston
Robertson Stephens International Ltd., and Robertson Stephens
Evergreen Securities Ltd. employ over 1,000 employees worldwide with
offices in Boston, San Francisco, New York, Menlo Park, Chicago,
London, and Tel Aviv. For more information about the firm, please
visit our Web site at www.rsco.com.
The foregoing synopses are qualified in their entirety by the
more detailed information contained in the full research reports,
including the discussion of certain risks associated with an
investment in the above-mentioned securities contained in "Investment
Risks."
The information contained herein is not a complete analysis of
every material fact respecting any company, industry or security.
Although opinions and estimates expressed herein reflect the current
judgment of BancBoston Robertson Stephens Inc., the information upon
which such opinions and estimates are based is not necessarily updated
on a regular basis; when it is, the date of the change in estimate
will be noted. In addition, opinions and estimates are subject to
change without notice. This Report contains forward-looking
statements, which involve risks and uncertainties. Actual results may
differ significantly from the results described in the forward-looking
statements. Factors that might cause such a difference include, but
are not limited to, those discussed in "Investment Risks." BancBoston
Robertson Stephens Inc. from time to time performs corporate finance
or other services for some companies described herein and may
occasionally possess material, nonpublic information regarding such
companies. This information is not used in the preparation of the
opinions and estimates herein. While the information contained in this
Report and the opinions contained herein are based on sources believed
to be reliable, BancBoston Robertson Stephens Inc. has not
independently verified the facts, assumptions and estimates contained
in this Report. Accordingly, no representation or warranty, expressed
or implied, is made as to, and no reliance should be placed on, the
fairness, accuracy, completeness or correctness of the information and
opinions contained in this Report. BancBoston Robertson Stephens Inc.,
its managing directors, its affiliates, and/or its employees may have
an interest in the securities of the issue(s) described and may make
purchases or sales while this report is in circulation. BancBoston
Robertson Stephens International Ltd. is regulated by the Securities
and Futures Authority in the United Kingdom. This publication is not
meant for private customers. The securities discussed herein are not
FDIC insured, are not deposits or other obligations or guarantees of
Fleet Bank or BankBoston N.A., and are subject to investment risk,
including possible loss of any principal amount invested.
--30--MF/ph*
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