Benchmark Initiates Coverage on InfoSpace (INSP) with a Buy

May 29, 2009 10:55 AM EDT

Benchmark initiates coverage on InfoSpace (Nasdaq: INSP) with a Buy rating and an $8 price target.

Benchmark analyst says, "InfoSpace's operations have stabilized over the past six months, at a run rate of about $16 million in annual OIBDA cash flow. INSP's balance sheet is strong with almost $6 per share in cash and no debt. THe new CEO is qualified to guide both its operating and acquisition strategies...Owned and operated sites accounted for 31% of revenue in 1Q09 while distribution partners accounted for 69%. We expect revenue from owned and operated websites to decline 14% y/y in 2009, offset by distribution revenue increases that we estimate shou1d increase 12% y/y. For 2009, we project $161 million in total revenue, up 3% y/y leading to OIBDA of $16 million, down 32% y/y. We forecast adjusted EPS of $0.24."

To see more analyst ratings on INSP Click Here.

InfoSpace, Inc. (InfoSpace) develops search tools and technologies that assist consumers with finding content and information on the Internet. The Company offers search services that enable Internet users to locate and view content, information, merchants, individuals and products online.

Related Categories

New Coverage

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?