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Technology Stocks : PROGRAMMER'S PARADISE (PROG)
PROG 0.146+6.5%Jun 13 5:00 PM EST

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To: dana ingram who wrote (111)1/10/1999 4:04:00 PM
From: Zeev Hed  Read Replies (1) of 2383
 
Dana, if you agree with me that a fair value for PROG could be around one time yearly sales, or about $60/share, it sure is a good long term hold. I think, however, that it is important to note that not all the internut are selling at a PSR of 25 like AMZN, and MZON currently at a PSR of .5 is such an example of lower valuations in the field. Give us two years in front of the momentum players and a massive short interest position and we could possibly go to some overvaluation, but not so fast.

Zeev
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