Newspaper article The Florida Times Union

Website Pros Inc. Poised for an Uptick, Analysts Say

Newspaper article The Florida Times Union

Website Pros Inc. Poised for an Uptick, Analysts Say

Article excerpt

Byline: Mark Basch

Website Pros Inc. has been trading below its $10 IPO price recently, but analysts have a good feeling about the stock's future. In fact, all five analysts following the company have a "buy" rating on the stock, according to Bloomberg News.

The latest analyst to jump on board is Nate Swanson of ThinkEquity Partners, who started coverage last week with a $15 price target for the stock.

"With an efficient customer acquisition model, a proprietary software platform and factory-like development methodology, we believe Website Pros is uniquely positioned to penetrate the emerging market for small business Web sites and marketing services," Swanson's research report said.

Jacksonville-based Website Pros, which develops Internet sites for small and medium-sized businesses, went public last November at $10 a share.

The stock peaked at $14.21 in April but fell in the spring after the company announced a secondary offering. It's been trading mostly between $9 and $10 in recent weeks, leaving the stock attractively priced, Swanson said. The price has been about 16 times analysts' consensus 2007 earnings forecast of 59 cents a share, according to Thomson Financial.

ST. JOE PROMOTIONS

The St. Joe Co. took another step last week toward setting up its management of the future by announcing two key promotions. Britt Greene, president of the company's St. Joe Towns & Resorts unit, was promoted to chief operating officer and Chris Corr was promoted from senior vice president of strategic planning to chief strategy officer.

As chief operating officer, Greene succeeds Kevin Twomey, who retired in May as president and COO. But the company has not named a president to replace Twomey as the No. 2 executive.

When Twomey announced his retirement in February, Jacksonville-based St. Joe said Greene and Corr are part of a five-person executive team that will run the company one day. But current CEO Peter Rummell said his retirement is at least five years off, and the company has not indicated who will inherit the chief executive slot. …

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