IAC/InterActiveCorp Upgraded at Barclays (IACI)
IAC/InterActiveCorp (NASDAQ:IACI) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday. The firm currently has a $87.00 price objective on the stock, up from their previous price objective of $72.00. Barclays’ target price suggests a potential upside of 23.49% from the stock’s previous close.
IACI has been the subject of a number of other recent research reports. Analysts at Maxim Group reiterated a “buy” rating on shares of IAC/InterActiveCorp in a research note on Tuesday, August 26th. They now have a $85.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $76.62.
IAC/InterActiveCorp (NASDAQ:IACI) opened at 70.45 on Thursday. IAC/InterActiveCorp has a 52 week low of $50.14 and a 52 week high of $80.64. The stock’s 50-day moving average is $66.97 and its 200-day moving average is $68.65. The company has a market cap of $5.875 billion and a P/E ratio of 32.12. IAC/InterActiveCorp also saw a significant drop in short interest in August. As of August 15th, there was short interest totalling 2,374,783 shares, a drop of 41.4% from the July 31st total of 4,054,465 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,745,283 shares, the short-interest ratio is presently 1.4 days.
IAC/InterActiveCorp (NASDAQ:IACI) last announced its earnings results on Wednesday, July 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts expect that IAC/InterActiveCorp will post $2.15 EPS for the current fiscal year.
IAC/InterActiveCorp (NASDAQ:IACI) is a media and Internet company.
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