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Technology Stocks : Open Market (OMKT)
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To: patlew who wrote (1903)1/28/2000 8:51:00 AM
From: NotNeiderhoffer  Read Replies (1) of 2004
 
eLloy,

I will have to up my price target as we are almost there. Besides, price targets should be unattainable pipe dreams, numbers that capture your imagination and make you dream of an early retirement spent living better than everyone you know, especially the schmucks who sit in any cubicle within earshot of you.

It does not look like OMKT will be at the mid-Feb Goldman conference so we lose that angle. They moved it out to Palm Springs so no recaps from me on that one.

The chatter on this yesterday, at least in print, was that a peer group of comps are trading at a substantial price to sales premium to this so this stock is undervalued. The LEAF deal did also play a role.

As they say, it is e-business or out of business. Demand is exploding although demand might not be surging as much as some of these ecommerce stocks.

People are jacking their BVSN targets because as of wednesdays close it was only trading at about 50x FY00 revenue with a peer group of things like VIGN, KANA and of course ePiphany, among others trading at 104x revenue. Throw out high flier Kana (gulp-220x) and the peer group is trading at a mid-80x's tupe number. Do the math on this one, off the top of my head we are around 28x-30x I think. Do your own calculations but this is roughly the case.

So we are still the Rodney Dangerfield of ecommerce despite the ramp I guess. Without giving it much thought I will jack my target above ahaha's and go with $100 for absolutely no reason except that is a nice round number.

NotsureifthisnewguyrunningthecompanywillgarnerevenahighermultipleNeiderhoffer

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