Sunday, March 18, 2012

Geeknet Gets a Buy Rating; The Value of SourceForge

I'm back from a one week getaway.

Geeknet (GKNT) announced the following: "SourceForge Launches a Directory in Germany for Local Software Downloads." The press release stated: "Localization for our top markets, including Germany, is a clear path for continued improvements in our site experience and opportunities to grow the user base for many open source projects." Makes me wonder... What is SourceForge worth?

This seems fitting... On Pi Day 02012 (02012.03.14) The Benchmark Company initiated coverage on Geeknet (GKNT) with a 'buy' rating. GKNT closed on Pi Day at $15.81 after closing on the previous day at $15.10. Benchmark's target price is $22, which is well below whatever my first target price of $30.94.

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