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Technology Stocks : XOOM [XMCM] -- Ignore unavailable to you. Want to Upgrade?

To: Alex MG who wrote (503)	4/14/1999 11:28:00 PM
From: Alex MG	Respond to of 687

Well looks like we had some tax selling then all the internets had a little panic selling at EOD. Panic selling usually is a great buying opportunity. Let's face it some of these internets needed to let off steam. XMCM fundamentals remain the same... Undervalued. BancBoston Robertson Stephens Initiates Coverage of XMCM with a Buy Rating SAN FRANCISCO, April 14 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: BancBoston Robertson Stephens managing director and senior Internet analyst Keith E. Benjamin today initiated coverage of Xoom.com (Nasdaq: XMCM - news) with a Buy rating, following its secondary offering of 4 million shares at $66. Xoom.com, headquartered in San Francisco, Calif., is a Web direct marketer. Its network of sites ranks it firmly in the top-20 Web properties, according to Media Metrix. ''We are initiating coverage of Xoom.com with a Buy rating,'' said Benjamin. ''Xoom is pioneering Web direct marketing. It has positioned itself by establishing a new life form on the Web -- a combination of free service, a store and a lead generator. ''We believe Xoom's Web direct marketing model is poised to capture a percentage of the existing $163 billion direct marketing industry,'' said Benjamin. ''Upcoming marketing plans should yield faster traffic and member growth, as the company has pursued very little beyond word-of-mouth marketing to date. The company offers free Web services as a hook to grow its member base, to which it markets Xoom products. ''As Xoom prepares to report first quarter results on April 20, we believe there is potential upside to our estimates,'' said Benjamin. ''We believe Xoom can grow into its $1.7 billion valuation by continuing to reach large numbers of people and generating more revenue and eventually profits per member from what we view to be an inherently efficient business model. The only catalysts we see over the next several quarters will be positive.''