Macromedia the darling of Wall Street

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More upgrades on the way as Macromedia stock surges 32% on the release of Q4 figures.

Macromedia's stock finished at $16.81, up $4.11, or 32 percent, on heavy volume on the Nasdaq Stock Market yesterday.

Late Wednesday, Macromedia executives surprised investors and analysts by boldly predicting revenue would rise between 10 percent and 20 percent in the current fiscal year, which began April 1.

The analysists (as per usual) are sounding a little more optimistic saying that reaching the company's growth target of 10% to 20% in fiscal 2004 "will require some work".

Interestingly they noted that the MX product upgrades will need to be out by the end of CY03 to feel comfortable that the upgrades will have the time required to provide Macromedia with enough potential for growth entering the back-half of FY04. So expect to see a flood of upgrades between now and next April.

A point confirmed by Chief Executive Rob Burgess in his Q4 Fiscal presentation where he said said the introduction of new products (including Royale)and upgrades to existing product would help drive the growth.

Hot picks on the upgrade charts for the next 6 months;

- Flash MX2
- Dreamweaver MX2
- and FCS MX2