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@ buckweiser Wie kann man denn Dein Musterdepot einsehen ? Habe nur noch die Adresse vom "alten" WO - Board; diese Adresse hat sich ja nun geändert. Außerdem: 27.11.00 Thus, Wit Soundview`s downgrade drives people out of Ariba, even though the analyst said nothing new. Mahoney basically says running a B2B marketplace will not be as profitable as the pioneers envisioned. He cites the conclusions of a Gartner Group e-business conference earlier this year: "Hub-and-Spoke marketplaces will be used only for low-value transactions ... Vertical marketplaces will become non-profit cooperatives supported by industry participants... The value marketplaces currently add will quickly become commoditized." The Wit Soundview analyst now believes the real money is in supply chain planning, because manufacturers don`t buy core goods from just anyone; when it comes to the most important parts, a company works closely with a small group of suppliers who have intimate knowledge of the buyer`s business data. Unfortunately for Ariba and Commerce One, supply chain management is the province of ERP vendors like SAP (NYSE: SAP), Oracle (Nasdaq: ORCL) and Manugistics (Nasdaq: MANU). Bottom line for Mahoney: Ariba and Commerce are overvalued. This is not an original thesis. Mahoney is not the first person to articulate it, and today`s report isn`t even the first time Mahoney himself has floated the idea. "Both stocks have (already) come down sharply since we published our observations from Gartner`s B2B Marketplace conference," Mahoney writes. In fact, Bears Stearns analyst Kaushik Shridharani in his research note says the same thing: nothing has changed for the B2B sector. "There have not been any announcements significant to business e-commerce to warrant such a sharp decline in valuation," Shridharani writes today. Shridharani reiterated triple-digit price targets for Ariba, Commerce One and Clarus (Nasdaq: CLRS). The Bear Stearns researcher doesn`t question the basic assumptions of the B2B proponents, but simply compares B2B stocks to other major software vendors. He points out that based on expected revenue growth, the B2B marketplace folks trade at far lower multiples than big technology names such as Microsoft (Nasdaq: MSFT) and Oracle. Despite that valuation gap and despite the lack of any empirical evidence to indicate Ariba the company is going to tank anytime soon, investors are sending ARBA the stock lower on the opinion of one analyst working for an investment bank that, while certainly well-known in the technology industry, wouldn`t qualify for the top tier of Big Names. That tells you all you need to know about the market`s nervousness. It needs a big reason to turn around. Nothing has appeared yet. |
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| aus der Diskussion: | Meine 5-Jahreprognose zu allen Einzeltiteln des Neuen Markt |
| Autor (Datum des Eintrages): | Prognose1 (27.11.00 21:10:39) |
| Beitrag: | 87 von 138 (ID:2428029) |
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