Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (22104)	1/14/1999 11:29:00 PM
From: William T. Katz	of 120523

Jenna, how about PROG. It's internet-related, P/S < 1/3, trailing P/E in 20s and projected P/E in 10s... yes it actually has earnings as well as an internet strategy with several web e-tailing sites. They just announced 490% increase in sales through web and 30% increase in revenue from 97. Web sales are probably small % of their 230 million in revenue, though. I'm trying to see what's wrong with this stock because it looks like the only internet-related stock which makes sense through traditional valuations (P/E, projected growth rate, etc.) The only two things I can think of are (1) low margins and (2) decrease in profit from 97 to 98. Margins will expand, though, as web sales become a larger part of the picture. If you have the time, I'd be interested in your take on the stock. There was a huge buying spree after the release of the web sales and revenue increases, but the price has fallen back on much smaller volume. Am I missing something with this stock or should it be worth a lot more? Thanks, Bill

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