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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Caravan who wrote (44313)	12/15/1999 3:20:00 AM
From: 2MAR$	Respond to of 108040

SAN FRANCISCO -- Intraware (Nasdaq:ITRA - news) might finally be about to get the respect that many who follow the stock say it deserves. The business-to-business software and services company serves as a middleman between software makers and their clients. Its Web site offers research and tools for companies that want to try, buy and directly download software applications over Intraware's high-powered networks. Those networks are Intraware's trump card: Many vendors can't handle large software downloads themselves because of the prohibitive costs of building out bandwidth. But although Intraware's revenue is twice that of any of its B2B peers, its stock has failed to get swept up in the B2B rally that has carried VerticalNet (Nasdaq:VERT - news) , Commerce One (Nasdaq:CMRC - news) and Chemdex (Nasdaq:CMDX - news) to record highs. Yet VerticalNet is trading at 186 times its third-quarter revenue's run rate, or the most recent quarter's revenue multiplied by four. Commerce One is trading at 220 times, Chemdex at 93 times and Intraware at 11 times. Many analysts tracking rapidly growing companies watch their run rate because trailing 12-month revenue can quickly grow outdated. "It brings up the word 'cheap,' which you don't hear very often," says Bob Herwick, a fund manager at Herwick Capital Management. Herwick sold Intraware in October after being frustrated that "Wall Street didn't seem to get it."