CNET también está disponible en español.

Ir a español

Don't show this again

Tech Industry

VerticalNet jumps on Goldman Sachs upgrade

    VerticalNet shares moved up 6 13/16, or 13 percent, to 57 15/16 Monday after Goldman Sachs upgraded the stock from a "market outperform" rating to its "recommended list."

    Analyst Jamie Friedman also set a 12-month price target of $75 a share saying the company "is emerging as a principal market maker in electronic components."

    VerticalNet (Nasdaq: VERT) is scheduled to report its second-quarter results next week.

    Last quarter, it easily hurdled analysts' estimates, losing $12.2 million, or 16 cents a share, on sales of $27.5 million.

    First Call Corp. consensus expects VerticalNet to lose 30 cents a share in its third quarter and 87 cents a share in the fiscal year.

    Its shares stormed up to a 52-week high of 148 3/4 in March after falling to a low of 13 3/4 in August.

    Twenty-three of the 24 analysts following the stock rate it either a "buy" or "strong buy."