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Technology Stocks : IFLY - travel sales on the web pure play
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To: Ie Coan Bie who wrote (37)4/9/1998 11:23:00 AM
From: Boplicity  Read Replies (1) of 4761
 
800 TRAVEL SYSTEMS INC (IFLY) 7 1/8 +2 3/16. They don't get much prettier than this. IFLY shares have now advanced 148% since our bullish Story Stock on Monday (see Archives) and an additional 39% since we posted news on In Play this morning that this "almost-Internet play" has officially become an Internet play. In a press release out today, the travel reservations company said that its Board of Directors has authorized management to develop an interactive travel reservation service over the Internet to complement the company's "800" numbers and existing web page. As we noted on In Play, with the stock trading at just 5.45 times trailing sales (now 7.76), IFLY is by far one of the cheapest Internet plays in its category. For example, shares of another recent high-flying IPO, Preview Travel (PTVL 33 7/8 +1 3/4), carry a Price/Sales multiple of approximately 37 (without giving consideration to planned offering of new shares, stock carries P/S of 29). So, with the announcement of the Internet move, all of sudden you have a stock that trades at an 85% discount to its closest-competitor, a competitor whose revenue growth lags IFLY's by approximately 90%. For those considering IFLY as a long-term play, it would probably be best to wait until the stock pulls back some before starting to establish a position.
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