Jupitermedia "outperform," target price reduced

11/02/05 - Piper Jaffray

NEW YORK, November 2 (newratings.com) - Analysts at Piper Jaffray maintain their "outperform" rating on Jupitermedia Corporation (JUPM), while revising their estimates for the company. The target price has been reduced from $24 to $22.

In a research note published this morning, the analysts mention that the company has reported its 3Q05 revenues short and EBITDA ahead of the estimates. Margins at Jupitermedia's Images segment were better than the estimates during the quarter, while revenues at the segment were short of the estimates, the analysts say. Piper Jaffray believes that the company's share price would be range-bound through the remainder of 2005. The EPS estimate for FY2005 has been raised from $0.93 to $1.66. The EPS estimate for FY2006 has been reduced from $0.66 to $0.64.