Vetro closed up 14.45% on Friday to finish the day at $6.81. VTRO’s its live toolbar user base topped 10 million for the first time in the company’s history, an increase of more than 11% since its September 30, 2010 reported metrics. Of these 10 million live toolbar users, 5.1 million were ALOT users from region one, 4.8 million were ALOT users from the rest of the world, and 0.1 million were users of the company’s legacy toolbar product. We believe that the cost to acquire appbar users and operate the appbar service will not be materially different from the cost to operate and market the legacy ALOT toolbars, but the revenue stream produced over its installed lifetime could increase dramatically.
We here at The Market Guardian believe that the new Appbar is going to be a HUGE SUCCESS and surely will have a major positive impact on Vertro’s bottom line as we go forward into 2011. Also we could see a significant acceleration of Vertro’s growth rate as the company is able to be more aggressive in its customer acquisition campaigns based on the higher revenue generated by the new appbar users.
“We’re proud to have reached this significant milestone, and with the continued success of our global expansion,” commented Peter Corrao, Vertro’s President and CEO. “With Black Friday, Cyber Monday and the rest of the holiday season right in front of us, we believe now is a great time to have achieved this new high point in our global toolbar user base.”
We see a reasonable price target of $10.00+ moving into 2011.
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