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Strategies & Market Trends : LastShadow's Position Trading

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To: Stock moghul who wrote (2512)	11/12/1998 1:03:00 PM
From: Jay Lyons	Read Replies (2) of 43080

>>ONSL: Can you point me to the upgrade by Needham?<< briefing.com 09:07 ET ONSALE Inc (ONSL) 23 3/8: Needham & Co reiterates its "strong buy" rating; says Yahoo!Auctions powered by ONSALE has been operational for about 2 months now, and in that time total listings on the site have more than doubled to about 60,000; management believes that new bidders are registering for the service at an even faster rate than new listings are coming online; Needham expects company to breakeven in Q3 1999; says ONSL currently trades at just 1.2 times firm's 1999 revenue estimate of $352.9 mln vs its eCommerce group avg. of 5.5 times 1999; firm sees no reason why ONSL shouldn't trade at 2x 1999 revenue or $37 a share. ONSL indicated 3/8 higher.

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