Ascendiant Capital Maintains a 'Buy' on Firsthand Technology Value Fund (SVVC); Negative Facebook Impact Overblown
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Price: $0.01 --0%
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Ascendiant Capital maintains a 'Buy' on Firsthand Technology Value Fund (NASDAQ: SVVC) price target of $21.00 (from $24.00).
Analyst, Edward Woo, said, "Q2 weakness on Facebook (Nasdaq: FB). Despite tough Q2, we continue to like the stock as current share price trading well below cash and NAV valuation...Despite weakness with the largest IPO of the year Facebook, we believe that the overall market for IPOs remains solid (+16% YTD)...Even if we accounted for the current market price of Facebook shares ($21) trading below Firsthand’s calculated Fair Value ($26), we note that this would only negatively impact net income and NAV by ~$0.40/share."
"We are being conservative given its recent weak track record, but believe this more than appropriately balances out the risks with growth prospects of its current and future investments." (FY12 EPS estimate lowered from (0.20) to (1.25)
For an analyst ratings summary and ratings history on Firsthand Technology Value Fund click here. For more ratings news on Firsthand Technology Value Fund click here.
Shares of Firsthand Technology Value Fund closed at $16.01 yesterday.
Analyst, Edward Woo, said, "Q2 weakness on Facebook (Nasdaq: FB). Despite tough Q2, we continue to like the stock as current share price trading well below cash and NAV valuation...Despite weakness with the largest IPO of the year Facebook, we believe that the overall market for IPOs remains solid (+16% YTD)...Even if we accounted for the current market price of Facebook shares ($21) trading below Firsthand’s calculated Fair Value ($26), we note that this would only negatively impact net income and NAV by ~$0.40/share."
"We are being conservative given its recent weak track record, but believe this more than appropriately balances out the risks with growth prospects of its current and future investments." (FY12 EPS estimate lowered from (0.20) to (1.25)
For an analyst ratings summary and ratings history on Firsthand Technology Value Fund click here. For more ratings news on Firsthand Technology Value Fund click here.
Shares of Firsthand Technology Value Fund closed at $16.01 yesterday.
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