ORLANDO, Fla., Sept. 13, 2006 (PRIMEZONE) -- RedChip Independent, a division of RedChip Companies, announced today that they have updated research on Pervasive Software, Inc. (Nasdaq:PVSW).
Lisa Springer, CFA, RedChip Research Analyst, wrote in the report:
"We initiated coverage of Pervasive Software in December 2005 with a Buy rating and a price target of $5.50, citing the company's strong competitive position in the ETL, healthcare, and open source database systems markets as reasons to invest. At a recent price of $3.83, Pervasive shares trade at only eighteen times 2006 earnings and well below the peer group twenty-nine times average P/E multiple."
To receive a complimentary copy of the RedChip Independent quarterly update for PVSW, please visit: http://www.redchip.com/independent/subscriber.asp?page=requestPVSWupdate.
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RedChip Independent Research Disclosure
The analysts contributing to this report do not hold any shares of PVSW. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.