Shares of Internet infrastructure company InfoSpace (Nasdaq: INSP), which offers commerce and content offerings for affiliate Web sites, climbed more than 13 percent on Monday, gaining 17-5/8 to an all-time closing high of 149. The climb came after the company announced that it will acquire wireless Internet services provider Saraide and e-commerce solutions company Prio.
InfoSpace.com also got a boost from Merrill Lynch analyst Henry Blodget, who initiated coverage of the company with a long-term buy rating and a price target of $160. The way things are going for InfoSpace.com stock, which has been on a tear in the last month, that target could be exceeded pretty soon. Whether that happens or not, investors in InfoSpace.com have to be pleased. After all, this stock’s 52-week intraday low was just 9-3/4.