SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Purchasepro.com Inc. (PPRO)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: 2MAR$ who wrote (439)2/15/2000 10:09:00 AM
From: BRea  Read Replies (2) of 748
 
2MAR$, PPRO is heating up again with new coverage target of $275.

RESEARCH ALERT - PurchasePro.com started at buy
NEW YORK, Feb 14 (Reuters) - Bear Stearns analyst Scott Ehrens said Monday he started coverage of business-to-business e-commerce company PurchasePro.com Inc. (NASDAQ: PPRO) with a buy rating and a 12-month price target of $275 per share.

-- shares of PurchasePro.com were off 4 trading at 100 on the Nasdaq stock market.

-- Ehrens said PurchasePro.com is becoming a dominant provider of Internet business-to-business e-commerce services to businesses of all sizes.

-- called the company the No. 1 pick in the so-called "B2B" sector.

-- said as of the fourth quarter of 1999, nearly 4,000 paying participants were on PurchasePro.com's network, and he expects that number to grow to nearly 5,500 by the end of 2000.

-- said Las Vegas-based company recently completed a secondary offering of 3 million shares on Feb. 10 at $80 a share, raising $160 million in gross proceeds.

-- said he believes company is taking critical steps in order to achieve critical mass rapidly, including instituting a Web-based browser that requires no software installation; establishing a low $100 per month cost of entry for network participation; enabling participants to be both buyers and sellers; and, providing participants with a unique database of businesses owned by women and minorities.

-- said PurchasePro.com generates about 89 percent to 95 percent gross margins on its recurring subscription fees.

-- said he expects the company to successfully transition to a transaction-based revenue model from a subscription-based model, positioning it for exponential growth potential.

-- said he expects PurchasePro.com revenues will reach $28.0 million in fiscal 2000 and $68.6 million in fiscal 2001.

-- said he expects company to see containing EBITDA losses for the foreseeable future.

BRea
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News