To: DAY TRADER who wrote (346 ) 1/11/1999 7:50:00 PM From: Goldbug Guru Respond to of 3070
Hambrecht & Quist Initiates Coverage of Infospace.com (INSP) With a FOCUS BUY rating Also Initiates Coverage of Concur Technologies, Inc. (CNQR) With a BUY rating SAN FRANCISCO, Jan. 11 /PRNewswire/ -- The following is being issued by Hambrecht & Quist, a member of the National Association of Securities Dealers, CRD number 940: Hambrecht & Quist (NYSE: HQ - news) initiated research coverage today of Infospace (Nasdaq: INSP - news) with a FOCUS BUY rating. A full report will follow by H&Q's Internet analyst, Daniel H. Rimer. Infospace is the leading aggregator and integrator of unique content solutions for syndication to a broad network of private label affiliates, including existing and emerging Internet portals, destination sites and suppliers of PCs and other Internet access devices. The company is currently the provider of utility content to over 1,500 affiliates, including recent deals to be the provider to portals like America Online, AOL.com, Netscape's Netcenter, Microsoft's MSN, and the Wall Street Journal Interactive. The company also has development agreements with a number of providers of Internet access devices, such as cellular phones, pagers, screen phones, television set-top boxes, online kiosks, and personal digital assistants. ''We believe Infospace to have a very attractive and unique business model,'' said Rimer, in his Research Report. ''Through its 'Intel-Inside,' private-label service the company has built a defensible and highly attractive business.'' He also noted that ''the company is trading at an attractive multiple relative to its closest comparable public companies,'' and that ''we expect the company to meet or exceed our December quarter revenue estimates of $3.5 million, and meet or exceed our ($0.19) EPS.'' Rimer also initiated coverage on Concur Technologies Inc. (Nasdaq: CNQR - news) today with a BUY rating. Rimer said ''We expect the company to meet or exceed our Q1, December quarter estimates of $5.5 million in revenue and ($0.42) EPS.'' Concur is a leading provider of Web based applications for the enterprise-wide automation of Travel and Entertainment (T&E) expense management and front office procurement. Hambrecht & Quist is a leading underwriter of public equity, and a leader in merger and acquisition advisory and private equity services for growth companies in the technology, healthcare, services and branded consumer sectors. H&Q has completed more than 380 equity offerings globally since 1995, raising more than $27 billion for emerging growth companies. H&Q's principal offices are in San Francisco, New York and Boston with additional offices in Europe, Asia and southern California, and a strategic partnership in Israel. Its stock is traded on the NYSE, symbol HQ. The firm's Web address is www.hamquist.com. SOURCE: Hambrecht & Quist Group