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Technology Stocks : XO Group Inc

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From: Glenn Petersen4/3/2006 3:33:43 PM
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KNOT gets an upgrade:

For 2006, Morrison expects the Knot to post earnings of 39 cents per share, above the analyst consensus estimate of 37 cents per share. For 2007, Morrison expects the Knot to post earnings of 76 cents per share, well ahead of the consensus estimate of 61 cents per share.

Knot Shares Reach New 52-Week High

Monday April 3, 1:54 pm ET

Knot Shares Gain After Analyst Says Company Can Maintain Higher Growth Rates

NEW YORK (AP) -- Shares of wedding magazine and Web site publisher The Knot Inc. reached a 52-week high Monday, after an analyst recommended the stock, saying the company can sustain higher growth rates than expected.

Knot shares rose 95 cents, or 5.3 percent, to $19.05 in afternoon trading on the Nasdaq after trading as high as $19.25 earlier in the day. The stock had previously traded between $5.94 and $18.11 over the past 52 weeks. With the latest gains, Knot shares are up about 66 percent for the year so far.

"We now believe The Knot can sustain higher long term revenue and cash flow growth rates than we had been previously expecting," JMP Securities analyst William Morrison said in a client note.

Morrison upgraded Knot shares to "Market Outperform" from "Market Perform," and set a $22 price target.

The analyst cited the company's new initiatives, including launching a cobranded credit card with American Express and its expected launch of The Nest magazine for newlyweds in the third quarter.

Morrison now expects the Knot to post 2006 revenue of $66 million and 2007 revenue of $82 million, above consensus estimates of $63.3 million for 2006 and $76.7 million for 2007 from analysts polled by Thomson Financial.

"Our new financial outlook is buttressed by strong momentum in user and usage growth at The Knot's online properties," Morrison added.

Users are up 15 percent annually at the company's main site, theknot.com, while users were up 100 percent at the company's site for newlyweds, thenest.com, he said.

"The Knot's management appears to be doing an exceptional job at seeding the community activity on The Nest with little to no promotional activity," Morrison said.

For 2006, Morrison expects the Knot to post earnings of 39 cents per share, above the analyst consensus estimate of 37 cents per share. For 2007, Morrison expects the Knot to post earnings of 76 cents per share, well ahead of the consensus estimate of 61 cents per share.

biz.yahoo.com
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