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Tech Industry

Net Perceptions rebounds on analyst comments

    Net Perceptions shares stormed up 3 1/4, or 32 percent, to 13 1/2 Monday after Piper Jaffray reiterated its "strong buy" recommendation on the Internet software developer.

    In a radio interview Monday, Nada said he based his upgrade on the fact that going into Monday, Net Perceptions (Nasdaq: NETP) was trading at just 10 times estimated 2002 earnings, or even less discounted back to today's dollars.

    Net Perceptions shares fell to a 52-week low of 9 3/4 last week after peaking at 66 1/2 in January.

    First Call consensus expects it to post a loss of 20 cents a share in its first quarter, up from the 14 cents a share it lost last quarter.

    Last week, Adams Harkness bumped the stock from a "trading buy" recommendation to a "strong buy."

    All nine analysts tracking the stock maintain either a "buy" or "strong buy" rating.