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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year
PSFT 0.00010000.0%Oct 29 5:00 PM EST
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To: Lizzie Tudor who wrote (2425)10/2/1998 5:59:00 PM
From: JC Reddy  Read Replies (2) of 4509
 
Is this the bottom for PSFT? Or is this going down further?

I cannot see anything negative about the company except two analysts' downgrades this morning (checked out all the news for last six months). I also noticed that PSFT has re-affirmed the bright business outlook only four weeks ago.

From Moteley Fool:

"PeopleSoft Inc. (Nasdaq:PSFT - news) , the number two provider of enterprise application software for business gained $2 5/16 to $31 7/8 this morning after reiterating its positive outlook for the balance of its fiscal year (and beyond) in a conference call last night. The company reaffirmed its expectation that total revenues in the third quarter will grow 60% year-over-year, and that cumulative 1998 results will see top-line growth in the range of 60-65% compared with 1997. As well, PeopleSoft forecast 1998 operating margins in the company's target range between 18-20%. Nothing new here -- it seems that PeopleSoft just wanted to clearly articulate its present business position in the wake of six months worth of inquiries regarding its operations and the enterprise resource planning (ERP) market as a whole."

I am beginning to suspect that the analysts' downgrades are bogus.

What do you guys think? What do you think the price action going to be next week?

Thanks.
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