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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: xfiles who wrote (4442)	1/29/1999 12:59:00 PM
From: bob zagorin	Read Replies (1) \| Respond to of 4509

you can get if from psft website. meanwhile, H&Q reiterates BUY but lowers 99 estimate. this is about where i come down. Firm: Hambrecht & Quist Department: Technology Industry: Computer Software Date: 1/29/99 PeopleSoft Short of Q4 Consensus; Plans Investments for Long-Term Opportunity Despite continued transition issues in the December quarter, we believe PSFT remains healthy and is investing for the long-term. Earnings per share fell a penny short of the Street's $0.17 estimate, but beat our $0.15 estimate. In its first ever earnings conference call, management boldly stated its intentions to invest through the current tough environment and resume growth in 2000 and beyond. We continue to expect near-term turbulence, but we like the long-term risk/reward opportunity. We are maintaining our BUY rating, but lowering our 1999 expectations.