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Technology Stocks : IFMX - Investment Discussion
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To: Logain Ablar who wrote (14047)4/21/2000 4:32:00 PM
From: 4finger  Read Replies (2) of 14631
 
I also listened to the conf call and I agree with your final point that mgmt stumbled in managing the street. Of the many conf calls I attend I would have to say that IFMX mgmt's raport with the anaylst was among the most awkward I have heard. They stumbled particularly badly when asked for direction in modeling rev growth going forward. The CFO started answering and then was interupted and by the CEO and they basicaly declined to answer the question. The subsequent stock price reaction was in my opinion reflective of that moment in the call. It was shockingly naive of management to think this question would not be asked and to not have a polished practiced reply was just poor preparation.
Despite their poor showing in this important aspect of managing perception I must say I agree 100% with the opinion of H&Q in their update. Even without management's help in modeling the year, I think you cant help but walk away with 25% plus rev growth estimates. I worke my numbers down from consensus and I would expect to see the forward number fall around $0.10 for the year. If you pay 1x PEG for the web and BI segments and a discount the legacy business I think the $22-24 target is about right. If they execute for the balance of the year and we get better manners on the subsequent conf calls, I think we would see those targets get significantly higher, but their is no question they just took some steam out of the near term with that call.

PS Don't get my wrong I am not a bear on the story. I bought all day on thursday so I'm long as hell.
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