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S1 shares surge on &#034strong buy&#034 rating

S1 Corp. shares hustled up 7 15/16, or 20 percent, to 47 Tuesday after Warburg Dillon Read started coverage of the Internet software developer with a "strong buy" recommendation.

S1 (Nasdaq: SONE), formerly Security First Technologies, hit a 52-week high of 142 1/4 in February after falling to a low of 25 1/8 in August.

Last quarter, it posted a loss of $117 million, or $3.50 a share, on sales of $40.4 million.

First Call Corp. consensus expects it to lose $2.27 a share in its first quarter and $8.33 a share in the fiscal year.

All 13 analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.