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Upgrades, outlook send BroadVision higher

BroadVision shares stormed up 7 3/8, or 17 percent, to 50 7/16 Tuesday after a pair brokerage firms upgraded the stock.

Goldman Sachs added the provider of customized applications for e-commerce to its "recommended list" from a "market outperform" rating while CS First Boston upgraded it from a "buy" rating to a "strong buy."

Last week, BroadVision shot past analysts' estimates in its first quarter, earning $10 million, or 4 cents a share, on sales of $61.5 million.

First Call's survey of 22 analysts predicted a profit of 2 cents a share.

Revenue in the first quarter increased to $61.5 million, up 41 percent sequentially and up 232 percent year-over-year. BroadVision landed 102 new licensed end-user customers during the quarter. Eight companies signed up as partners using BroadVision's products.

Fifty-six BroadVision customers went online with their e-commerce sites during the quarter, the company said.

BroadVision shares rallied up to a 52-week high of 93 1/4 in March after falling to a low of 4 7/16 last May. In between, the stock's split 3-for-1 twice.

Twenty of the 22 analysts following the stock rate it either a "buy" or "strong buy."