MarketForces Live Blog
Lower down the market blinkx rose 6.25p to 19.25p as the online video search engine reported increased traffic and a fall in full year losses from $9.3m to $8.9m. Piper Jaffray repeated its overweight rating and 26p price target while Citigroup also issued a buy note, saying:
“At the time of the IPO [in 2007], blinkx talked about the potential to launch transaction hijacking software. This is software that recognizes when users are about to buy something online and, before a sale is completed, displays options for purchasing the same good from rival retailers at a cheaper price. This software, branded ‘cheep’, is currently in closed beta and should be released to the public in the the second half of 2010. This presents a potential opportunity for blinkx to enter the very dynamic affiliate marketing/price comparison market.”
Some traders believe the company would be an attractive target for a larger group such as Google.