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Technology Stocks : SciQuest.com ( SQST ) -- Ignore unavailable to you. Want to Upgrade?

To: buckhead26 who wrote (20)	12/21/1999 10:41:00 AM
From: hoyasaxa	Read Replies (2) \| Respond to of 48

# Shares; H&Q $100 price target....... What's It Worth? : Following one of our recent B2B installments on the Life Sciences companies, we received an email criticizing us for claiming that SciQuest.com (SQST) was a $1.2 bln company when it was actually valued at under $200 mln. Panic set in with the thought of having called a stock too expensive based on a valuation that was six times too large. Valuation is of course equal to the number of shares multiplied by the current share price. Since the share price is an easy one to figure, the first thing for us to check was the share count. After checking the SEC filings and even calling the company for confirmation, we found that our share number and our valuation calculation were correct -- the SQST valuation was $1.2 bln (now $1.5 bln). The reader who emailed us saying that the valuation was $200 mln had found that figure at Yahoo! Finance, which uses Market Guide data (they list 3.98 mln SQST shares outstanding, when there are actually 24.37 mln). Here's the moral of the story -- if you are investing in a stock, be absolutely certain that the valuation you are using in your research is correct. In deciding whether or not to invest in a company, it should certainly make a difference whether the company is valued at $200 mln or $1.2 bln. And unfortunately, we have seen many instances of incorrect share counts on the Internet. Check your numbers! You can go to SEC filings or call the company, but don't assume that numbers posted on the Net are necessarily accurate. 08:56 ET SciQuest.com (SQST) 54 5/8: Chase Hambrecht & Quist calls company their favorite B2B play, places them on their "Focus List" and reiterates their "buy" rating with a $100 price target.