Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Probart who wrote (65380)	10/8/1999 2:09:00 PM
From: Connor26	Respond to of 120523

JPTR Friday October 8, 1:49 pm Eastern Time Jupiter shares double in price after IPO NEW YORK, Oct 8 (Reuters) - Shares of market research firm Jupiter Communications Inc. (NasdaqNM:JPTR - news) more than doubled in price on Friday after the company's initial public offering was priced at $21 a share. In morning dealings, shares of Jupiter were up 21-3/8 at 42-3/8 on the Nasdaq with six million shares trading. The deal, which raised $65.6 million, priced 3.125 million shares above an upwardly revised price range. The company had initially expected its IPO to price in a range of $15-17. Donaldson Lufkin & Jenrette was the lead underwriter on the offering, which represented a 22 percent stake in the firm. Analysts said investors were drawn to its strong brand name. ``Jupiter's research has been right on the mark and they are becoming a Web authority for the business,' said Tom Taulli, senior analyst at Internet.com. The New York-based firm, which offers research on Internet commerce, posted $14.4 million in revenues and a net loss of $130,000 for the six months ended March 31. ``It has all the ingredients for success and the market has been quite liberal in recent valuations. It has a decent growth rate at 131 percent and revenues are moving in the right direction, and it had good pre-offering demand as well,' said Irv DeGraw, research director at WorldFinanceNet.com. Analysts had expected the offering to perform well. Demand for research is seen growing in the coming years as Internet commerce and new technologies expand. The firm's competitors include Forrester Research, Gartner Group Inc. (NYSE:IT - news) -- which is also one of Jupiter's largest shareholders -- and Gomez Advisors.