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

To: stockman17 who wrote (18518)	8/15/2001 8:41:11 AM
From: AugustWest	Read Replies (2) \| Respond to of 20297

A couple downgrades this morning I just heard on CNBS. But they also mentioned Lehman upgraded, but lowered their price target from $150 to $50! I didn't know they hd aa $150 on them. They must not have revised since 1999 mania, LOL And I just saw this from briefing.com 7:24AM CheckFree (CKFR) 29.67: Robertson Stephens downgrades to BUY from Strong Buy following last night's earnings warning... firm cuts price target to $35 from $64.

To: stockman17 who wrote (18518)	8/15/2001 9:06:18 AM
From: noiserider	Read Replies (1) \| Respond to of 20297

Another thing I noticed was a question by one of the analysts about how to measure subscriber quality. The answer was transactions per subscriber. Although subs grew by 9% from 4.8M to 5.2M the transactions grew by 5% from 21M to 22M. If I do the math correctly those extra 400K subscribers did only about 2 transactions per month as compared to the norm of 4. I'm guessing this is due to the free billpay offered by some of the banks. Some percentage of those customers offered free billpay decline to use it. Or it may be Yahoo's free eBills where the user only has access to two or three eBillers. In any case, CKFR gets paid in part per subscriber, but in addition by the transaction and the more transactions they get the better. No wonder Pete is working on more eBillers (by scraping if necessary), adding biller direct hosting, and revving up the co-marketing plans. Noise

To: stockman17 who wrote (18518)	8/15/2001 9:07:26 AM
From: Rob C.	Respond to of 20297

LONDON, Aug 15 (Reuters) - Robertson Stephens said on Wednesday it had cut its rating on U.S. Internet billing firm CheckFree Corp. <CKFR.O> to "buy" from "strong buy" and its price target to $35 from $64. Analysts at the investment bank said guidance following the company's fourth quarter earnings announcement raised questions about its sustainable long-term revenue growth rate. The cut in the price target reflected a new assumption that CheckFree's sustainable revenue growth would be about 25 percent "for the foreseeable future," down from their previous projection of 35-40 percent sustainable revenue growth. "Despite the disappointing revenue growth, it is our view that CheckFree's long-term profit outlook remains essentially intact. This is the primary factor compelling us to retain a "buy" rating," they said. Shares in CheckFree closed at $29.67 on Tuesday. For research reports, go to Reuters Broker Research on Reuters Web at rbr1.session.rservices.com. REUTERS Rtr 03:03 08-15-01 Copyright 2001, Reuters News Service