PRSW: For those that missed my report from this morning and why I like it:
**Must Read Snapshot of PRSW**
Did a little browsing on the company, and found out the following on them:
- Offering of 3 million shares, priced at $11
- Major underwriters: BankBoston Robertson Stephens; Soundview Technology; I
Bancorp Piper Jaffray
- Initial Investors: CSCO, INTC (from ipocentral), Morgan Stanley Dean Witter,
Nexus Group, Piper Jaffray, The Entrepreneur's Fund
- Customers: Over 200 Global 1000 companies, including CSCO, INTC, AT&T,
IBM, Nokia, FDX, JP Morgan, Morgan Stanely Dean Witter, PFE, BellSouth,
Raytheon, Boeing, QCOM, XRX, and Instinet
- Customer highlights (individual stories):
. - FedEx - their system supports 200 flight controllers and 400 aircraft delivering 2
million packages nightly
. - JP Morgan - implementation of Odyssey application, the largest OO development
undertaken by the bank to date (built over a 2 year period)
. - Morgan Stanley - company's product is "the core of their next generation trading and
risk management systems... the specific project underway is a $300 million renovation
of the TAPS back office system."
. - Xerox - implemented Persistence PowerTier software for the human resources
system
- Partners
. - For Industry and Technology: MSFT, SUNW, Hewlett Packard, IBM, ROCL,
IFMX, SYBS, Orbix, and many many others.
. - Solutions Powerpartners: Computer Sciences, Alta Software, Cambridge
Technology, EDS, Orbisys, and again, many many more.
Snapshot as provided by IPO Central:
Persistence may pay off for Persistence Software. The
company develops transactional server software,
behind-the-scenes technology that enables global
corporations to conduct high-end electronic commerce.
Persistence's PowerTier products offer real-time access
and help process online transactions for financial,
manufacturing, telecom, and transportation companies.
The company also offers educational services,
consulting, and technical support. Customer-investors
Cisco and Instinet account for about 30% of sales.
Persistence sells directly and through distributors in
Asia, Europe, Latin America, and the US. Shareholders
include CEO Christopher Keene, Intel, Thompson Clive
Investments, and Morgan Stanley.
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Technical Analysis
- Stock broke out today on volume of over 500,000 shares, or 16% of the float
- very similar pattern to breakouts like SWCM and CYBS of late
- Coverage is due next Tuesday
I don't like to put price targets on stocks, but providing we have a strong move Tuesday
into the 20's (and a decently strong overall market), 25 to 30 is very possible by early
next week.
Good luck all. Haven't been as excited about a stock since I called CYBS at 16 a
couple weeks back.
Jason |
