SHARE
Facebook X Pinterest WhatsApp

Net Stocks Gain A Little Back From Rate Fears

Written By
thumbnail
Steve Harmon
Steve Harmon
May 17, 1999

Volatile is as volatile does, to borrow a line from the classic film Forrest Gump. On the plus side of swings today’s ISDEX jumps 2.6% to 579 while the Dow get s slight haircut and the NASDAQ pops slightly as rate rising fears ease somewhat. The snapshot:

  • Beyond.com (NASDAQ:BYND) pops on no news but what I think could be a growing desire for larger commerce players to want to own an electronic-software delivery superstore. On valuation BYND looks like 10x annualized but what I forecast as 6x forward revenues with 2.1 million customers probably growing to perhaps 3 million to as high as 4 million by year end if growth rate continues at first-quarter rates.
  • Security First (NASDAQ:SONE) decides to leap into the big leagues with a $1 billion buy of Europe’s FICS, which makes software for banks. On the heels of that deal the Web bank software maker decides to snap up Edify for $17.87 per share or $345 million. Pro forma SONE will have a third of the world’s leading 100 financial institutions using its service.

    Relatedly, finance software maker Intuit likes what it sees and invests $50 million, or $51.50 per share, for 2.5% of SONE. Deal swirl which makes sense in this unabridged sector. At $637 million market cap for SONE I don’t know why Intuit stopped at 2.5%. To me Security First has taken a big step and raised its profile and leverage.


    ALL NEW! internet.com’s HotWatch a monthly e-mail subscription for $99,
    featuring Internet Stock Report’s Steve Harmon, and his top 10 noteworthy
    Internet stocks for the month. Each month you will receive in-depth
    analysis on the top 10 Internet stocks to watch with the information you need to assess
    the fast-paced nature of Internet stocks. Staying on top of market changes in the
    Internet Stock market is what counts. For $99 per year, you receive 12 timely
    issues sent to you by e-mail. Don’t wait, our next issue will be out before
    you know it with a whole new perspective on the market.
    Sign up today at: e-newsletters

  • Recommended for you...

    U.S. Needs to Protect Tech Leadership: Qualcomm
    Rob Enderle
    Apr 8, 2022
    HP’s ExtendXR Service Gets an Early Lead on a Looming Metaverse Problem
    Rob Enderle
    Mar 5, 2022
    Cisco’s Purpose Is to Improve the World. Imagine if Others Followed.
    Rob Enderle
    Dec 17, 2021
    HP Builds an Advanced Cloud Workstation for the Metaverse
    Rob Enderle
    Nov 13, 2021
    Internet News Logo

    InternetNews is a source of industry news and intelligence for IT professionals from all branches of the technology world. InternetNews focuses on helping professionals grow their knowledge base and authority in their field with the top news and trends in Software, IT Management, Networking & Communications, and Small Business.

    Property of TechnologyAdvice. © 2025 TechnologyAdvice. All Rights Reserved

    Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.