I decided to waste $12 this weekend and buy the Navarre research report from March 17. If you are looking for an ammusing read, I suggest you check it out. I especially enjoyed the research techniques utilized.
One concern Miller uses to justify the "Sell" recommendation is the apparent weakness in antivirus (AV)sales. I was curious about this and did some of my own research. Here is what I found:
Navarre mentions NPD Intellect as a source of information for the PC software industry in their 2004 annual filing. I visited the NPD website and found a listing of the top selling software from February 2005. For all categories of PC software, Norton Antivirus 2005 was ranked 4th (3rd in January). Other Norton products were ranked 8th, 9th, 10th, and 13th. Webroot products were ranked 16th & 17th. All of these products were also on the top-selling list in January as well. If antivirus and similar software sales are down this year, then all software sales are down based on the above mentioned rankings. I also checked CompUSA's website, and no suprise, most of their best selling software listed was from Norton.
Miller also mentions that Navaqrre apparantely is not attending video game conferences even though this area was identified by management as a growth area. Hmmm, I wonder why Navarre is listed as an exhibitor at the E3 show (held in LA in May), the largest video game industry trade show, if they are not making a committment to increasing market share in this arena?????
Just thought the board may find this of some interest.
well since he has a $5 target..........he'ld have to be pretty stupid not to have a low earnings est........wonder how much he is getting paid to dog NAVR.........wonder how much jail time he gets if he gets caught...........wonder how many clients MJSK will lose from following that retards advice.......i see lots of lawsuits in MJSK future..........maybe we should short them.LOL