Macromedia...making a comeback? Message Board

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Technology Stocks : Macromedia...making a comeback?

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To: Jatin Kadakia who wrote (2196)	5/8/1998 1:33:00 PM
From: av ram	Read Replies (1) of 2675

From Briefing.com " MACROMEDIA INC. (MACR) 16 5/8 +1/8. Investors have not shown much of a reaction to MACR's Q4 earnings report, despite the company exceeding Wall Street views by 67%. Neither has a Piper Jaffray "strong buy" reiteration done much for the stock this morning (intraday range 16 9/16-17 1/4). For the qtr, the developer of software tools for Web publishing reported operating net of $0.05 a share, reversing a year-ago loss of $0.41 a share. Gross margin rose to an extremely impressive 92%. Revenues leapt 127% to $30.01 million. Lack of reaction to this report is very surprising, as 1) this is an "Internet" play, and we know how hot they have been lately; and 2) Piper Jaffray is pushing MACR as a stock with big near-term upside. Over the next 6-12 months, the firm expects MACR shares to climb another 32% to its $22 price target. Piper Jaffray has been on the mark with MACR thus far. Since upgrading the shares from "buy" to "strong buy" in mid-December, the stock has appreciated 111%; though some of that gain can be attributed to the updraft that quickly carried almost all-things Internet to new highs. Maybe the firm was lucky or maybe it was smart. It was probably a combination of both. However, one must give credit where it is due: Piper Jaffray, by far, has been the loudest voice behind this stock. An example of the firm's bullish stance on MACR is its FY99 earnings per share estimate of $0.41 (P/E 40.5), which is fully 46% above the $0.28 (P/E 59) First Call mean estimate."

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