نزل ابقريد إلى Buy مع هدف 0.60 نشوف تاثير الابقريد و هل يساعد على تجاوز 0.40 ؟؟ تحت المتابعة 0.36
Stockgroup Information Systems Upgraded To 'Buy/4,' Target $0.60, By Investrend Analyst Ryan Fuhrmann, CFA
Business Wire - December 22, 2004 12:15
NEW YORK, Dec 22, 2004 (BUSINESS WIRE) -- Stockgroup Information Systems (OTCBB:SWEB) (TSX VENTURE:SWB)
Investrend Research analyst Ryan Fuhrmann, CFA, has released an Institutional Research Update on Stockgroup Information Systems (OTCBB:SWEB)(TSX VENTURE:SWB), upgrading it to "Buy/4," and reiterating a target valuation of $ 0.60.
The analyst said his valuation is based upon increasing confidence that Stockgroup "will begin to achieve consistent profitability going forward. Our confidence has increased over the past 12-24 months as the company has evolved into its current business plan, eliminated all of its long-term debt, and is beginning to consistently deliver positive net income, cash flow from operations, and free cash flow."
"Our price estimate is $0.60 due to a discounted cash flow and comparable analysis. This could prove conservative should revenue growth exceed our projections or should SG&A expenses slow considerably from their current pace."
The analyst also noted:
Revenue increased 64% quarter over quarter in the 3Q2004. Growth remained consistent since Q2 where revenue increased 72% quarter over quarter and in Q1 where revenue increased 74% as compared to Q1 2003. For the nine-month period ended September 30, 2004, revenue increased 70% as compared to the prior year period.
As witnessed by impressive gross margin expansion, the distribution of financial information via multiple technological platforms is highly scalable; once fixed costs of infrastructure are met, the marginal cost of adding an additional user or customer is close to zero. As highlighted, Stockgroup gross margins are benefiting as a result of the business model.
Investor interest grows in the industry. An institutional investor (US Global Funds) recently purchased a 9% interest in Stockgroup.
The company continues to experience consecutive quarter over quarter increases in revenue as it signs high-profile clients and partnerships. Growth is driven by strength in the stock market; this has decreased since Q1 but sales continue to increase. High levels of top-line growth beyond the next 12-18 months will most likely be driven by successful developments in the AP relationship.
The analyst's credentials are at
www.investrend.com/articles/secondlevel.asp?level=238.
Stockgroup Information Systems is enrolled in Investrend Research's pioneering professional research program and has paid a continuous Institutional Coverage fee of $29,800.
Complete information about this company is available at the company's InvestorPower page at
www.investrend.com/company/list.asp?sPathParam=yes, and the full report is available at
www.investrendresearch.com. Investors are advised to read disclosures carefully before trading in the equities of any enrolled company.
Anyone interested in receiving alerts regarding Stockgroup Information Systems research should email
contact@investrend.com and with "SWEB" in the subject line.