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CMGI Kursexplosion , zurzeit 31% auf 13.54Dollar , WR Hambrecht analyst Robert Stimson stuft CMGI mit einem "Buy" rating und Kursziel $22.50 ein
CMGI Shares Spike After 1Q Results
Tuesday December 4, 11:52 am ET
CMGI Shares Skyrockets After 1st-Quarter Profit Jump; Analyst Keeps 'Buy' Rating
NEW YORK (AP) -- Shares of CMGI Inc. skyrocketed Tuesday morning after the supply-chain and inventory-management software provider posted a first-quarter profit that widely exceeded Wall Street's expectations.
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The stock added $2.24, or 21.7 percent, to $12.57 in late-morning trading.
On Monday, CMGI reported first-quarter earnings of 18 cents per share while analysts expected 10 cents per share, according to a poll by Thomson Financial.
WR Hambrecht analyst Robert Stimson kept his "Buy" rating and $22.50 price target, more than double Monday's closing price of $10.33.
"We are encouraged by the company's progress, and we continue to believe that CMGI is a compelling turnaround story and a long-term investment play that will likely begin to bear fruit exiting 2007," Stimson said in a client note.
CMGI's 14.2 percent margin growth during the period beat Stimson's estimate of 12.3 percent growth, meaning "the company has gained traction in higher margin verticals and that the newer contracts have more than offset the lost revenue" from discontinued contracts, he said.
Stimson raised his 2008 sales forecast to $1.25 billion from $1.15 billion and his earnings forecast to 62 cents per share from 56 cents per share. CMGI maintained its guidance for 2008 on Monday, saying it still expects sales between $1.1 billion and $1.15 billion
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