CHICAGO, March 7 /PRNewswire/ -- William Blair & Company initiated research coverage of HouseValues, Inc. (NASDAQ:SOLD) ($8.92), which provides third-party services for consumers and agents engaged in the real estate industry, with a Market Perform rating and company profile of Aggressive Growth.
Analyst Troy Mastin estimated that the company would earn $0.27 per share in 2006 and $0.48 per share in 2007. (Estimates include options expense.) "We believe that the company offers the most comprehensive set of third- party real estate services as a result of its two-pronged approach: servicing both the consumer looking for help in buying or selling a home and the real estate agents seeking consumer leads," Mastin said. "The company has executed well in three key areas, including a complex outbound real estate agent sales effort, localized consumer lead generation using offline and online media, and real estate agent support tools and services." "HouseValues has demonstrated a competency of establishing and supporting a customer base in a highly fragmented industry, skills that we believe open opportunities in adjacent verticals, such as mortgages," Mastin added.
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