June 4, 2004
SpeculatingStocks.com Stock Pick: Network Engines, Inc. (NENG)
Stock Price: $2.91 (long-term strong buy)
Network Engines, Inc. is a leading development, manufacturing and distribution partner for storage and security software and network equipment providers. One of their major partners is Microsoft.
On April 22, 2004, Network Engines exceeded guidance with revenues of $35.6 million and $975,000 in net income, or $0.02 per share.
NENG jumped over $1 on this news to as high as $4.49 and since has dropped over $1.50.
This time last year NENG was at about the same level when it began its run to over $11. It dropped due to changes in its agreement with EMC.
SpeculatingStocks.com Target Price: At some point before the end of 2004, we expect NENG shares to run above $6.00.