IAC/InterActiveCorp. Downgraded to Hold at Canaccord Genuity (IACI)
IAC/InterActiveCorp. (NASDAQ:IACI) was downgraded by Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Shares of IAC/InterActiveCorp. (NASDAQ:IACI) opened at 51.91 on Monday. IAC/InterActiveCorp. has a 1-year low of $38.20 and a 1-year high of $55.57. The stock has a 50-day moving average of $50.64 and a 200-day moving average of $47.59. The company has a market cap of $4.307 billion and a price-to-earnings ratio of 24.34.
IAC/InterActiveCorp. (NASDAQ:IACI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.95 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.94 by $0.01. The company had revenue of $799.40 million for the quarter, compared to the consensus estimate of $782.43 million. During the same quarter last year, the company posted $0.86 earnings per share. IAC/InterActiveCorp.’s revenue was up 17.5% compared to the same quarter last year. Analysts expect that IAC/InterActiveCorp. will post $3.89 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital initiated coverage on shares of IAC/InterActiveCorp. (NASDAQ:IACI) in a research note to investors on Friday. They set an “equal weight” rating on the stock. Separately, analysts at Topeka Capital Markets raised their price target on shares of IAC/InterActiveCorp. (NASDAQ:IACI) from $60.00 to $65.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of IAC/InterActiveCorp. (NASDAQ:IACI) from $62.00 to $66.00 in a research note to investors on Friday, August 2nd.
One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. IAC/InterActiveCorp. currently has an average rating of “Buy” and an average price target of $59.26.
IAC/InterActiveCorp (NASDAQ:IACI) is a media and Internet company consists of more than 150 brands and products.
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