IAC/InterActiveCorp. Downgraded by Wells Fargo & Co. to Market Perform (IACI)
IAC/InterActiveCorp. (NASDAQ:IACI) was downgraded by stock analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $70.00 price target on the stock. Wells Fargo & Co.’s target price points to a potential upside of 2.20% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of IAC/InterActiveCorp. (NASDAQ:IACI) traded down 2.52% during mid-day trading on Friday, hitting $66.765. 3,169,341 shares of the company’s stock traded hands. IAC/InterActiveCorp. has a 1-year low of $38.20 and a 1-year high of $70.44. The stock’s 50-day moving average is $57.24 and its 200-day moving average is $52.90. The company has a market cap of $5.561 billion and a price-to-earnings ratio of 24.26.
IAC/InterActiveCorp. (NASDAQ:IACI) last announced its earnings results on Tuesday, October 29th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.34. The company had revenue of $756.87 million for the quarter, compared to the consensus estimate of $805.70 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts predict that IAC/InterActiveCorp. will post $3.99 earnings per share for the current fiscal year.
A number of other firms have also recently commented on IACI. Analysts at Cowen and Company cut their price target on shares of IAC/InterActiveCorp. from $56.00 to $51.00 in a research note to investors on Wednesday, October 30th. They now have a “market perform” rating on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of IAC/InterActiveCorp. from $66.00 to $55.00 in a research note to investors on Wednesday, October 30th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of IAC/InterActiveCorp. from $56.00 to $52.00 in a research note to investors on Wednesday, October 30th. They now have a “hold” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. IAC/InterActiveCorp. currently has a consensus rating of “Buy” and a consensus price target of $60.51.
IAC/InterActiveCorp (NASDAQ:IACI) is a media and Internet company consists of more than 150 brands and products.
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