Exodus "strong buy" (Legg Mason) ZOCKERTIP - 500 Beiträge pro Seite

[PAbrar]

July 15th 2001
Exodus Communication "strong buy"
Legg Mason

Rating-Update:

Die Analysten von Legg Mason bekräftigen ihre Einschätzung für die Aktie von Exodus Communication (WKN 912687) mit „strong buy“. Das Kursziel wird auf 6 US-Dollar veranschlagt.

Exodus Communications befindet sich heute mit 1,4$ auf Allzeittief-Niveau. Das Jahreshoch lag bei 28,5$ und das 250-Tage-Hoch bei 69$. Legg Mason empfiehlt bei einem Kauf in Deutschland Exodus in Frankfurt zu handeln. Stopp-Loss bei 1,2$ setzen.

[moneywolf]

Bitte Quelle?
Danke!

[SDI85]

Dann hat mein Depot endgültig den Exodus!!!

SDI85

[emsiwgsus]

Die werden kommen!!!!

[C2000]

das sind Expertenempfehlungen wert / 02.05.00 !!!!!!!!!!!!!!


Quelle: Advanced Equities

Exodus Communications Inc.
(EXDS)

BUY

Recent Price: $90 1/8

RISK: HIGH

Price Target: $250

1Q00 RESULTS AND UPDATE REPORT


Business Summary.

Exodus Communications is a leading provider of Internet system and network management solutions for enterprises with mission-critical Internet operations. The Company’s solutions include Internet Data Centers, network services, managed services and professional services, which together provide the high performance, scalability and expertise that enterprises need to optimize their complex Internet operations. Exodus delivers its services from geographically distributed, state-of-the-art Internet Data Centers that are connected through a high performance dedicated and redundant backbone network. Exodus’ solutions are tailored to integrate with existing enterprise systems architectures and to enable customers to outsource the monitoring, administration and optimization of their equipment, applications and overall Internet operations.


Investment Highlights.

Exodus exceeded our revenue, EBITDA and EPS projections for 1Q00. Revenues for 1Q00 were $134.1M versus our projections of $133M, a 32% increase from last quarter. The Company reported EBITDA profit for the first time of $1.7M versus our projections of $0.


Currently Exodus has 20 Internet Data Centers (IDCs) and plans to have 36 IDCs operational by year ended 2000. During the quarter, the Company has added 545 new IDC customers bringing the current total to 2,830 IDC customers.


Strategic acquisitions and investments in Mirror Image, Service Metrics, Network-1 and Storage Networks allow the Company to expand its product mix and evolve its business model.


We believe that Exodus Communications will continue to be the leader in mission-critical web hosting and managed network connectivity solutions. We are revising our earnings and revenue projections upwards to reflect the Company’s current growth and demand for its products. We are reiterating our Buy rating and are maintaining our 12-month price target of $250.



In April 20, 2000, Exodus reported its first quarter results for the period ended March 31, 2000. The Company exceeded our revenue expectations and beat our EPS expectations by two pennies. Revenues for the quarter reached $134.1M, which is a 32% increase from last quarter versus our projections of $133M. Earnings per share before amortization and onetime charges was ($0.23) which exceeds our expectations of ($0.25). Revenue streams were broken down as follows:

33% of revenues were derived from managed services.

27% of revenues were derived from bandwidth services.

40% of revenues were derived from the IDCs.

Better than expected revenues resulted in increases from network connectivity and management revenues from new customer web sites. Managed service revenues increased in part due to the strong demand for Firewall and DataVault products. These products provide web sites with enhanced site security and network storage capabilities. Bandwidth services revenues increased in part due to B2B and B2C enterprises demanding excess bandwidth for mission critical transactions. Data Center services increased in part due to the growing ASP customer base that demands large amounts of space in order to host their extensive applications. New booking revenue for the first quarter grew to $174M and average annual recurring revenue per customer grew to $220,000 from $196,000 last quarter. The increases in booking and recurring revenue are due to the demand for the Company’s complementary suite of products. Exodus’ customer breakdown for the first quarter was 325 public and private companies and 51 private peering ISPs. PSI Net (NASDAQ:PSIX) was the only peering agreement to be dropped in the last quarter. PSI Net contributed approximately about 0.7% of the Company’s revenues in 4Q99. In the future we expect that the Company will experience revenue growth from B2B and B2C enterprise companies seeking bandwidth connectivity solutions and from ASP companies seeking server space. The Company currently has 20 operational IDCs and plans to have 36 IDCs operational by year ended 2000. The most recent IDC was unveiled in Franfurt, Germany and contains approximately 120,000 square feet of server space, automatically making Exodus the market leader for web hosting in Germany. During 2Q00, the Company is expected to unveil two more IDCs located in Paris and Amsterdam. Exodus will have roughly 3.9 million square feet in server space either operating or under construction by the end of the year 2000. During 1Q00, the Company has added 545 new IDC customers bringing the current total to 2,830 IDC customers, an increase of 24% over the last quarter. We believe Exodus will continue to attract customers at an accelerated pace and expand its customer base to roughly 3,500 customers by the end of the second quarter. In 1Q00, the Company turned EBITDA positive for the first time in its history, due to increased top line growth along with a decrease in operating expenses. This marks a milestone for the Company as it achieves positive EBITDA while aggressively expanding operations. The Company’s aggressive construction of its various IDCs will cause Exodus to have capital expenditures of about $625 million for the year ended 2000. The IDCs located in Los Angeles and Seattle became EBITDA positive in six months and eight months, respectfully. Exodus’ goal is to turn IDCs EBITDA positive within 18 months of commencement of operations. We believe that due to the underlying expansion of its IDCs, this time frame will remain constant. During the quarter the Company has engaged in strategic alliances and acquisitions that allowed it to introduce products and services. The enhanced product mix increases Exodus’ ability to attract and maintain customers. Strategic acquisitions and investments in Mirror Image, Service Metrics, Network-1 and Storage Networks allow the Company to expand its product mix and evolve its business model. On February 10, 2000, Exodus acquired the Professional Services Division of Network-1 Security Solutions Inc. for $4 million in cash. The Professional Services Division is a leading provider of security and network design consulting, The acquisition of Network-1’s security services division provides the Company with 100 security services individuals focused on analyzing and reinforcing network security. The Company’s strategy is to be known as the most secure location of data on the Internet. On March 22, 2000, Exodus announced that it would make a $637.5 million investment in Mirror Image Internet, a unit of Xcelera.com Inc. (AMEX:XLA). Mirror Image Internet makes software that improves the delivery of Internet content. The investment in Mirror Image allows Exodus to resell, host and geographically distribute content to its customers. The Company will utilize Oracle’s (NASDAQ:ORCL) SI database technology as a platform and Inktomi’s (NASDAQ:INKT) caching solution to geographically distribute the content. The Company’s strategy is to work on streaming media and multi-caching and ultimately try to marry Mirror Image’s content peering with Inktomi’s caching technology. On January 2000, Exodus acquired KeyLabs Inc., a provider of e-business testing services based in Utah, for $43.5 million in Exodus stock. On November 1999, Exodus acquired Service Metrics, Inc., a leading provider of Internet monitoring applications and services, for approximately $280 million in stock. The acquisitions of KeyLabs and Service Metrics gives Exodus a reach in 23 metropolitan areas with 220 data collection agents providing constant performance monitoring and stress testing of customer web sites. The Company also formed a strategic alliance with Storage Networks and will resell disk on demand services to its customers. Exodus’ aggressive investments and acquisitions show the Company’s eagerness to provide a “one-stop” outsourcing solution for companies with mission-critical operations. The Company helps its customers to work together in its IDCs thus becoming a virtual B2B mall. It offers each customer value added opportunities and potential for new alliances.

According to Forrester Research, by the year 2003 the Internet hosting industry will be worth $14.6 billion dollars, $10 billion of which will be complex web hosting. Exodus is at the forefront of the industry with cutting edge products and a continuously evolving business strategy. We believe that revenues are poised to grow at an explosive pace due to the increase in customer demand and the growth of the Internet. We expect that the Company will continue to experience growth in its gross margins in the quarters ahead while keeping its operating costs to a minimum. We believe the Company will continue to experience strong EBITDA growth in its IDCs regardless of its aggressive expansion campaign. In our opinion Exodus will make more acquisitions and strategic alliances in order to provide customers with a “one stop shop” of solutions for their web sites. We are revising 2Q00 and FY00 revenue projections upwards to $167.7M and $773.4M from our previous projections of $165.0M and $763.0M. The upward revenue revisions reflect increases in network connectivity and management revenues from new customer web sites. We are also revising our 2Q00 and FY00 estimates upwards to ($0.19) and ($0.73) per share from our previous estimates of($0.22) and ($0.80) per share. The upward estimate revisions reflect ongoing increases in gross margins and decreasing operating costs. The Company’s current growth and demand for its products will sustain current market volatility and continue to drive Exodus’ stock price upwards within the next 12 months. We believe that Exodus Communications will continue to be the leader in mission-critical web hosting and managed network connectivity solutions. We are reiterating our Buy rating and are maintaining our 12 month price target of $250.

nicht verzagen 5 Dollar sind drin

Viel Spaß

[Kirschbaum]

@PAbrar

1. Diese Meldung ist nicht vom 15.07.01 sondern schon vom 29.06.01, also schon etwas her.

2. Allzeittief ist nicht 1,4$ sondern 1,18$.

[wkn92399O]

eigentlich hatte ich mal auf einen ruhigen erfolgreichen kurz-zock gehofft.
aber mit dieser ganzen analysten- und empfehlungssch... geht das doch wieder schief.
ich kaufe grundsätzlich nichts, was von analysten heiss empfohlen wird, das geht nahezu immer
nach hinten los.
aber dieses mal bin ich leider schon drin und habe vorhin keine 1,73 bekommen..
:|