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Technology Stocks : Booking Holdings (formerly Priceline) -- Ignore unavailable to you. Want to Upgrade?

To: PeterGx who wrote (2190)	1/29/2000 5:55:00 PM
From: ecommerceman	Read Replies (1) \| Respond to of 2743

Priceline skeptics might want to read the Robertson/Stephens analysis... "BELIEVE THE COMMERCIALS? PRICELINE IS BIG, REALLY BIG! We recently raised our revenue estimates for Priceline following the company's preannouncement of strong revenues and smaller losses. Following this week's full release of Q4 results, which were slightly better than preannounced levels, we again raised our estimates, this time increasing our revenue and EPS outlook as a result of exceptionally strong business momentum and improved operating leverage. Specifically, we believe Priceline's new businesses are growing quickly, benefiting from the added traffic the others businesses bring to the site. We continue to be impressed by Priceline's strategy of selectively entering new markets through partnerships (like WebHouse Club) that are structured such that Priceline's investors reap the near-term benefit of high gross margin revenues and the potential long-term benefit of consolidation of attractive business partners. Priceline's management indicated plans to enter several new businesses in 2000, including new insurance products, credit cards, additional international markets, vacation packages, and cruises. In addition, we believe Priceline could enter the B2B space in the second half of this year, which by our estimates could prove an even larger market opportunity for Priceline than the B2C sector. What's all this mean to investors? We believe it means Priceline (as their ads say) is going to get BIG, really big and really fast. In our view, investors dramatically underestimate the widespread applicability of Priceline's name-your-price business model in both the B2C and B2B sectors. As a result, we believe Priceline could grow into a valuation several times its current levels and thus, Priceline remains our single Strong Buy rated stock."