Upgrade lifts WebTrends shares

Jan. 2, 2002 4:43 p.m. PT

Shares of WebTrends Corp. (Nasdaq: WEBT) moved up 3/4 to 30 13/16 after Pacific Crest Securities raised the Internet software developer from a "buy" to a "strong buy" recommendation. The stock moved as high as 32 at one point Wednesday.

Following Wednesday's upgrade, all six analysts following the Portland-based company rate it either a "buy" or "strong buy."

Two weeks ago, SoundView Technology Group also raised it from a "buy" to a "strong buy" rating.

Since its successful initial public offering in March, the stock surged as high as $84 a share.

First Call consensus expects it to earn 3 cents a share in its second quarter and 12 cents a share in the fiscal year.

In the nine months ended Sept. 30, 1998, WebTrends pocketed $119,000 on sales of $5.5 million. The company has more than 20,000 customers.