SAN FRANCISCO, Mar 21, 2000 (BUSINESS WIRE) -- Robertson Stephens
Senior eFinance Analyst Scott Appleby today reiterated his Buy rating
and raised estimates on Ameritrade (NASDAQ:AMTD). Ameritrade provides
technology-based brokerage services to retail investors through a
variety of mediums including primarily the Internet.
"We are reiterating our Buy rating and raising our estimates on
Ameritrade for the March quarter and fiscal year 2000," said Appleby.
"In our opinion, account growth for the company was considerably better
than expected, resulting in our raising account growth estimates from
205,000 to 250,000." This results in an average cost of $230 on
marketing as compared with last quarters' cost of $468.
"We are also increasing earnings per share estimates for the March
quarter to $0.07 and fiscal year 2000 earnings per share to $0.16,"
said Appleby. "In addition, we are raising our March quarter revenue
estimates to $163 million and fiscal year 2000 estimates to $585
million."
"NASDAQ volume for the quarter is tracking as the strongest ever with
the March quarter's average weekly volume of $8.7 billion, an increase
of 37 percent from the December quarter," said Appleby.
Clients interested in receiving more information should contact their
salesperson at (415) 781-9700.
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The firm's 47 equity research analysts cover nearly 700 companies.
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