IAC/InterActiveCorp’s “Buy” Rating Reiterated at Maxim Group (IACI)
IAC/InterActiveCorp (NASDAQ:IACI)‘s stock had its “buy” rating reissued by Maxim Group in a research note issued on Tuesday. They currently have a $85.00 price objective on the stock. Maxim Group’s target price indicates a potential upside of 24.72% from the stock’s previous close.
In other IAC/InterActiveCorp news, Director David S. Rosenblatt sold 7,500 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $68.27, for a total transaction of $512,025.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of IAC/InterActiveCorp in a research note on Thursday, July 31st. They now have a $75.00 price target on the stock, down previously from $76.00. Separately, analysts at Benchmark Co. raised their price target on shares of IAC/InterActiveCorp from $77.00 to $80.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of IAC/InterActiveCorp from $62.00 to $67.00 in a research note on Thursday, July 31st. They now have a “hold” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. IAC/InterActiveCorp currently has a consensus rating of “Hold” and a consensus price target of $75.75.
Shares of IAC/InterActiveCorp (NASDAQ:IACI) traded up 0.37% on Tuesday, hitting $68.40. 66,826 shares of the company’s stock traded hands. IAC/InterActiveCorp has a 52-week low of $49.03 and a 52-week high of $80.64. The stock’s 50-day moving average is $66. and its 200-day moving average is $68.53. The company has a market cap of $5.704 billion and a P/E ratio of 31.08.
IAC/InterActiveCorp (NASDAQ:IACI) last announced its earnings results on Wednesday, July 30th. The company reported $0.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.81 by $0.77. The company had revenue of $756.30 million for the quarter, compared to the consensus estimate of $794.40 million. During the same quarter last year, the company posted $0.95 earnings per share. IAC/InterActiveCorp’s revenue was down 4.3% compared to the same quarter last year. Analysts expect that IAC/InterActiveCorp will post $2.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 1st. Shareholders of record on Friday, August 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a positive change from IAC/InterActiveCorp’s previous quarterly dividend of $0.24.
IAC/InterActiveCorp (NASDAQ:IACI) is a media and Internet company.
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