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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: noiserider who wrote (13054)	1/12/2000 7:27:00 AM
From: Benny Baga	Read Replies (2) \| Respond to of 20297

>>>can anyone suggest where they think the assumptions from SSB (a $40 price target)are wrong? That was the only thing I liked about the SSB report, at least he showed his model. I'm still looking at it, but IMHO, major points missed are... 1. No Revenue (or earnings) from bill presentment through 2004? - Not sure how the Analyst missed this, but if what CheckFree charges the biller is indexed against the price of a stamp it could be fun (although I doubt they did that, just thinking out loud). Not to mention alternative revenue sources (market popups, etc.) 2. A '20' multiple? FDC has a 32 multiple and even Warren Buffett considers them undervalued enough to triple his holdings recently (and Warren doesn't even buy Tech Stocks). And most Tech stocks that are leaders in their area have a 50 - 100 multiple. 3. Others Include (but hard to estimate) - International, B2B (trillion dollar market), and Person to Person payments. Remember CheckFree as a Corporation is piloting and currently paying 90% of its invoices electronically (if I heard correctly). I think there is other stuff there also, but I think overall the Analyst just didn't put enough time into researching the company and their prospects. Benny(IMHO)