Internet

Checking The Knot

September 28, 2010

The Knot (NASDAQ – KNOT $8.76) had their analyst day in NYC today. (For some reason the event is not being webcast.) It’s a name that I only recently started looking at, but in the last year we’ve been very attracted to Internet-based businesses that focus on meaningful niche markets, like Ancestry.com, or streamline traditional [...]

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Motorola Story Intact for YE

July 29, 2010

We published a Motorola positioning document and company analysis back in February (available here) that outlined how Motorola might establish some improved momentum and gain a better multiple in the market to drive the stock towards $20.  Even absent a bold strategy, the valuation of the company post-split is likely to be in the $11-12 [...]

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Reasons to expect multiple compression on Google

February 26, 2010

Google is in the news again in a not-so-favorable light due to continued scrutiny and actions in Europe. We have written about this a few times (see Related Posts) and we have acknowledged it more as a nuisance so far. However a recent post over at Taylor Frigon discusses the shifts that occur for large [...]

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QuinStreet is getting more interesting

February 23, 2010

We published a research report that provided a preview of the QuinStreet (QNST-$13.14) IPO and noted that the main problem we saw was the too-high filing range. The mid-point at the time was $18 and didn’t leave much upside to our intrinsic value (IV) estimate of $21. Subsequently the investment banks (Credit Suisse, Bank of [...]

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QuinStreet IPO Check

February 8, 2010

We published a short research note on QuinStreet on Friday based on our initial investigation into the “vertical” online direct marketing space. The company is on the road for an IPO managed by Credit Suisse, Bank of America/Merrill Lynch and JP Morgan. (Interestingly an old hand in the tech IPO space, Frank Quattrone, is back [...]

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