Stephens Inc. Initiates Coverage of MessageMedia
Leading Investment Research Firm Issues 'Buy' Rating
BOULDER, Colo.--(BUSINESS WIRE)--Dec. 15, 1999--MessageMedia Inc., a leading provider of marketing and customer relationship management services, announced today that investment bank Stephens Inc., has initiated coverage of the company and issued a ''BUY'' rating on MessageMedia stock, with a 12-month target price of $26.
Shares of MessageMedia closed yesterday at $16-7/16.
''We are very pleased that Stephens Inc. has added MessageMedia to its coverage roster,'' said Larry Jones, president and CEO of MessageMedia. ''Stephens recognizes that its research -- and pending research from other investment banks -- will help underscore our company's leadership position in the e-mail marketing space.''
The report by Stephens Inc. represents the first formal research on MessageMedia. ''We believe that MessageMedia has remained below the radar screen of many investors while new public offerings have garnered more attention,'' said Brad Eichler, Lead Internet Analyst at Stephens Inc. ''We hope our team's coverage will have a positive effect on the company's visibility and investor profile.''
The Stephens Inc. report highlights a number of positive factors in MessageMedia's core business and strategy. Analysts cited the company's high-profile client list, which includes Cisco, CMP Media, E*TRADE, Estee Lauder and Charles Schwab, and its comprehensive product offerings relative to other messaging providers as key advantages.
''We're proud that Stephens Inc. recognized the breadth of our services as a competitive advantage,'' said MessageMedia's Jones. ''Unlike many of our competitors, we offer a comprehensive suite of products and services for e-marketing and e-customer relationship management solutions.''
MessageMedia's offerings include outbound messaging, e-marketing campaign management, inbound e-mail customer care processing, surveys, and customer database management services.
''We also like that MessageMedia is leveraging its product and service offerings in the B2B marketplace,'' Eichler said.
''The company currently provides Cisco Systems #reply-12233363, one of the most technically advanced B2B companies in the world, with messaging services that allow Cisco to interact more efficiently and effectively with its worldwide channel partners and customers. That is a model that can be applied to numerous businesses.''
Stephens Inc. also expressed support for MessageMedia's strategy to migrate away from the mass distribution of low-value e-mails (blasting) toward a more value-oriented focus on customer relationships #reply-12260244.
''Customer acquisition is only one part of the puzzle,'' said Eichler. ''We believe that MessageMedia can continue to add value and achieve an integrated role in the relationship between businesses and their customers.''
About Stephens Inc.
Stephens Inc. is a full-service investment banking firm headquartered in Little Rock, Ark., with regional corporate finance offices around the U.S.
Stephens Inc. serves the investment needs of clients, both nationally and internationally, including institutional investors, corporations, state and local governments, financial institutions, public agencies and individuals throughout the United States and overseas.
The company is proud of its ability to maintain long-term relationships with people and companies across America, offering them all the capital resources and clout of Wall Street. It is this commitment that has earned Stephens Inc. recognition as an industry leader and a position as one of the largest regional investment banking firms in the country.
To access the full report, go to stephens.com.
About MessageMedia, Inc.
MessageMedia is the leading provider of e-mail-based customer relationship management and direct marketing services.
The Company offers a comprehensive suite of outsource messaging services for information delivery, e-commerce services, permission-based direct marketing, ongoing customer communications and real-time customer feedback solutions using industry standard Internet protocols.
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