August 10, 2005
SpeculatingStocks.com Stock Pick: Infospace, Inc. (INSP)
Stock Price: $24.33 (long-term strong buy)
Infospace, Inc. is a diversified technology and services company comprised of the Search & Directory and Mobile business units. The company is a global provider of cross-platform merchant and consumer infrastructure services on wireless, broadband, and communication platforms.
INSP plummeted after releasing lowered guidance anticipating lower revenues for the third quarter. The company does however expect revenues to grow in the fourth quarter. This came after the company reported a 21 percent rise in profits for the second quarter, net income rose to $16.3 million.
INSP was beat up over guidance and a perfect buying opportunity has been created. INSP has strong support at this level, the last time it was down around $24 was early 2004.
SpeculatingStocks.com Target Price: We expect INSP to reach $50 within the next 6-12 months.