Amid disappointing news that Bankrate.com (RATE) would cut 2008 revenue guidance by 2%, resetting expectations between $164 to $169 million, some analyst are rushing in with rating upgrades.
Why?
Because Tom Evans is smart and Bankrate.com has a sturdy platform for weathering economic and advertising storms. The masterful management of expectations early sets a nice low bar [...]
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rate
Bankrate, like most of the Internet advertising market with mortgage market exposure, has missed quarterly earnings estimates. I think the key trend line that needs to be watched is reflected in this statement from Bankrate’s CEO, Thomas Evans:
“It was an unusual quarter in that we had two record months followed by a soft December, when [...]
