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Technology Stocks : RAZF--Razorfish...Will this little fishy be a good catch?? -- Ignore unavailable to you. Want to Upgrade?

To: Dennis who wrote (221)	7/8/2000 1:41:26 PM
From: SIer formerly known as Joe B.	Read Replies (1) \| Respond to of 258

Big deal, they had strong buy on RAZF in the 70s with a target of the 90s. Until the insiders stop selling I don't think the fish can swim far upstream. IMO MCF(TSE) is much more compelling at it's present value than RAZF. If you don't like Canadian stocks you'll be able to buy MCF on the Nasdaq by September but it'll probably be at least 30% higher than it's current price.

To: Dennis who wrote (221)	7/8/2000 1:42:47 PM
From: Dennis	Read Replies (1) \| Respond to of 258

MORE INFO> Razorfish Inc(RAZF) 1 - Buy K. Keirstead Conversation with CFO (A,C) OLD NEW STREET P/E Price: $15.875 EPS 1999 N/A $0.22 N/A N/A 52 Wk Ra: $57 - 12 EPS 2000 $0.30E $0.30E $0.30E $52.9 Mkt Cap: $1.6B EPS 2001 $0.42E $0.42E $0.43E $37.8 FY: 12/31 Price Target $40 $40 Rank 1 1 •Last week we spoke with the CFO of Razorfish to update our outlook. At just 38 times expected 2001 cash EPS and 3.7 times 2001 revenues, Razorfish shares are oversold given very strong company and industry fundamentals. •Razorfish should comfortably beat our $70 million revenue estimate for 2Q00. Recruiting is ahead of plan, turnover should remain flat at 18%, over 10% of revenues are derived from wireless projects and the European currency impact is small. •Importantly, the average billing rate of $171 per hour in 1Q00 has big upside given a rate increase of 10% in the US and 20% in Europe initiated on July 1st. •We expect Razorfish to report 2Q00 earnings on July 25th at 4:30PM. We reiterate our 1-Buy rating.