WR Hambrecht + Co Initiates Coverage of RealNetworks, Inc. (RNWK) With a Buy Rating and a Target of $62
June 29, 2000 08:32 AM Eastern Time
SAN FRANCISCO, June 29 /PRNewswire/ -- The following is being issued by WR Hambrecht + Co, a member of the National Association of Securities Dealers, CRD number 45040:
WR Hambrecht + Co today initiated research coverage on RealNetworks, Inc. RNWK with a buy rating and a price target of $62. WR Hambrecht + Co's eMedia analyst Bill Lennan cited RealNetwork's high-quality revenue streams, including software (64%), services (20%), and advertising (16%) as key reasons for the rating. WR Hambrecht + Co offers all its research reports free and real-time at www.wrhambrecht.com.
"With 127 million registered RealPlayer users and 85% of Web content encoded in its formats, RealNetworks is the clear leader in both streaming media metrics," Lennan said.
Lennan projects RealNetwork's total revenues will reach $246 million in 2000 and $325 million in 2001, up from $131 million in 1999.
RealNetworks, Inc. provides software and services enabling the creation, serving, and playback of rich multimedia content on the Internet.
About WR Hambrecht + Co
WR Hambrecht + Co (www.wrhambrecht.com) is leveraging technology to bring transparency to capital formation and securities exchange processes. The firm's earliest and best-known innovation is OpenIPO, an auction-based model for initial public offerings. WR Hambrecht + Co focuses on providing underwriting and advisory services for technology and emerging growth companies as well as on investing for its own portfolio. The firm serves institutional and retail clients with equity research, sales and trading, electronic brokerage and online private equity syndication. WR Hambrecht + Co has offices in San Francisco, New York, Boston and Philadelphia and is backed by industry leaders including: American Century, American Express, Crimson Ventures, epartners, Fidelity Ventures, Hikari Tsushin Capital, Inc., Instinet Corporation, Novell, Park Avenue Capital, Scudder Technology Fund, Kemper Technology Fund and Texas Pacific Group.
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