Stock Watch: Engage IPO Expected To Take Off

The trend of red-hot Internet initial public offerings is expected to continue today when Engage, the online profile-driven marketing company controlled by top Internet incubator CMGI (Nasdaq: CMGI) goes public. The offering priced at $15 after an original range of $9 to $11, so it’s already been a success for CMGI.

Analysts predict a major pop for this offering, with Ben Holmes of giving the offering his highest rating and predicting that the stock will trade at least five points higher than $15. Keep an eye on this one today, and while you’re at it, keep an eye on CMGI, which owned 96 percent of Engage prior to the IPO.

Another reason to watch the IPO is that online investment bank Wit Capital (Nasdaq: WITC) is handling online distribution for CMGI shareholders. A successful Engage IPO could make investors even more bullish about the online investment bank.

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