RealTime IT News

DoubleClick Rated "Outperform"

Wit Capital Corp. initiated coverage on ad network DoubleClick Inc. and Research Analyst Jordan Rohan assigned the company an "outperform" rating.

"We recognize the power of the leadership position that DoubleClick has developed," Rohan said. "The company is setting industry standards and expanding the market for online advertising and marketing services."

"We believe the company is creating a virtuous cycle in online advertising services, whereby the company can maximize its average revenue per customer by offering a comprehensive array of services. Furthermore, DoubleClick stands to benefit from the 4Q99 brand promotion of Alta Vista, the company's largest client."

Rohan said he anticipates that DoubleClick will generate $1.1 billion in revenues in 2001 and diluted earnings per share of $0.44.

Rohan's financial projections include the company's recent acquisitions of Abacus Direct and NetGravity. Wit Capital Group Inc. was founded in 1996 as the first online investment banking firm.