Good job John, here is the second coverage for NETG just off the wire.
NEW YORK, July 9 (Reuters) - First Albany Corp's
FAC/Equities research division said analyst Ullas Nalk started
coverage of NetGravity Inc on Thursday with a buy rating.
-- First Albany was an underwriter of the company's June
IPO. NetGravity's lead underwriter, BancAmerica Robertson
Stephens, started the company with a buy rating on Wednesday.
-- Shares up 2-3/4 or 13 percent to 24-3/4 in early
trading. The gains came amid a rally in the Internet sector
after Yahoo Inc (NASDAQ:YHOO) posted better than expected earnings.
-- Nalk said NetGravity's revenues are growing rapidly, up
227 percent in 1997 to $6.4 million, it has an "impressive"
blue-chip customer base, it uses conservative accounting
policies, and it is trading at a discount when compared to
other leading Internet stocks.
-- NetGravity provides software to help online content
providers and heavily-trafficked websites manage their Internet
advertising. Clients include AtHome Corp's (NASDAQ:ATHM) @Home
Network, CNN Interactive, E*Trade Group Inc (NASDAQ:EGRP), Time
Inc's New Media and Virgin Net. The company is based in SanMateo, California.
-- In a research report, he said Jupiter Communications
estimates that NetGravity customers serve about 42 percent of
all Web advertisements. Nalk said he expects the company to
maintain its market-leading position.
-- Nalk set a $28 12-month price target for the shares.
-- He expects a loss per share of $1.01 in 1998 and a loss
of $0.46 a share in 1999.
-- The company has 13.3 million shares outstanding, giving
it a market capitalization of $329 million based on today's stock action.
Copyright 1998, Reuters News Service |
