Progressive Asset Management Initiates Strong Buy on MathSoft.OAKLAND, Calif.--(BUSINESS WIRE)--Feb. 4, 1997--Progressive Asset Management today initiated coverage of MathSoft (MATH) with a "Strong Buy" recommendation. Analyst Alan Hicks Hicks , Edward 1780-1849. American painter of primitive works, notably The Peaceable Kingdom, of which nearly 100 versions exist. said MathSoft is in a unique position to provide a new generation of data mining tools. MathSoft's S-Plus is the premier data analysis software, with a blue chip customer list that includes virtually all the top pharmaceutical and financial companies as well as many leading consumer, computer, telecom, and industrial companies. Typical corporate customers are Merck, Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. , Hewlett-Packard, Intel, Ford, Swiss Bank, McDonald's, Fidelity, NY Life, Citibank, AT&T, DuPont, Boeing and Mobil. New products based on S-Plus will provide decision makers network access to advanced analytics on demand for data mining applications. Hicks added that MathSoft is also likely to partner with other leading data mining and database companies to supply powerful data analysis capabilities to their products. MathSoft is also pioneering Internet-based educational productivity tools that Hicks feels have the potential to fundamentally restructure teaching and learning for the 21st Century. MathSoft's flagship Mathcad has had total sales of 650,000 copies in universities and corporations. A new version of Mathcad, StudyWorks, is aimed at high school mathematics and science students. Mathcad 7.0 is a major upgrade due to ship in the June quarter. It is aimed at deepening deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. Noun 1. deepening - a process of becoming deeper and more profound market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" in the corporate market with increased Internet/intranet capabilities. MathSoft shares have fallen from a high of $9 last April with recent concerns over a delay in the Mathcad 7.0 upgrade resulting in the expectation of a loss of $0.13-$0.15 in the March quarter. However, Hicks feels that with a new generation of enterprise data analysis tools for data mining applications, new Internet-based teaching and learning tools for higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. , a major new upgrade of their flagship Mathcad, and a strong new management team, MathSoft is in a better position for growth than at any time in its history. Hicks expects revenue growth to accelerate to 30 percent over the next three years. While Hicks expects a loss for fiscal year (June) 1997 of $0.25 based on heavy investments in new products, Hicks sees earnings in fiscal 1998 at $0.11 and fiscal 1999 at $0.33. Hicks feels the current share price of $4 1/4 does not reflect the strong technology and opportunities in data mining as well as in Internet-based teaching tools. Hicks feels that between $3 1/2 and $4 1/2 MathSoft shares represent an exceptional long-term buying opportunity. Progressive Asset Management, Inc. is the first full service brokerage firm to specialize spe·cial·ize v. 1. To limit one's profession to a particular specialty or subject area for study, research, or treatment. 2. To adapt to a particular function or environment. in socially responsible investing Socially responsible investing describes an investment strategy which combines the intentions to maximize both financial return and social good. In general, socially responsible investors favor corporate practices which are environmentally responsible, support workplace diversity, . Founded in 1987, it has over $700 million in client relationships. PAM offers: portfolio screening, access to a network of over 75 top-performing managers, as well as all major markets and mutual funds, shareholder activism and a variety of community impact investments. PAM has offices in Oakland, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the Boston area, northern Michigan This article is about the region; for the university, see Northern Michigan University Northern Michigan - or more properly Northern Lower Michigan - is a region of the U.S. state of Michigan, popular as a tourist destination. , and Portland, Ore. CONTACT: Progressive Asset Management Leah Sturtz, 510/645-2549 |
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