CNCX has been noticed: from Briefing.com Story Stocks:
11:55 ET ******
CONCENTRIC NETWORK CORP (CNCX) 25 1/8 +2 1/2. CNCX is another in a long list of largely-undiscovered Internet stocks that has experienced triple-digit gains since the beginning of the year. CNCX provides wide area intranets and extranets for the enterprise. These IP-based Virtual Private Network services connect enterprises with their remote sites, mobile users, business partners and customers. Since the beginning of March, CNCX shares have almost doubled and the stock has jumped more than 30% since last week, alone. Today, the stock has advanced 11% on volume of 400,000 shares, compared to average daily volume of 137,000 shares. According to Zacks, CNCX is currently followed by four analysts, 2 rating the stock a "strong buy," one rating the shares a "buy," and another viewing the issue as a "strong sell." For 1997, CNCX reported revenues of $45.46 million, up 191% from the year-ago period. The company's net loss for the year was $5.43 per share on a pro-forma basis, compared to a FY96 loss of $11.88 per share. What really stands out about this stock is its relatively cheap Price/Sales ratio. These days, it is tough to find an Internet play with a P/S of under 15. However, even after rising so much over the past month, CNCX still sports an extremely attractive P/S of 7.8. This piece is not meant to pump CNCX shares, simply to alert our readers to another low-profile stock that is riding the latest wave of Internet enthusiasm. |
