IAC/InterActive (IAC) Raised to “Buy” at Zacks Investment Research
IAC/InterActive (NYSE:IAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $70.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 12.74% from the company’s current price.
According to Zacks, “IAC is a leading media and Internet company. It is organized into four segments: The Match Group, which consists of dating, education and fitness businesses with brands such as Match.com, OkCupid, Tinder, The Princeton Review and DailyBurn; Search & Applications, which includes brands such as About.com, Ask.com, Dictionary.com and Investopedia; Media, which consists of businesses such as Vimeo, Electus, The Daily Beast and CollegeHumor; and eCommerce, which includes HomeAdvisor and ShoeBuy. IAC’s brands and products are among the most recognized in the world reaching users in over 200 countries. The Company is headquartered in New York City and has offices worldwide. “
Several other research analysts have also recently issued reports on IAC. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective (up from $62.00) on shares of IAC/InterActive in a research report on Tuesday, June 21st. Axiom Securities reissued a “buy” rating on shares of IAC/InterActive in a report on Wednesday, June 22nd. Jefferies Group reissued a “hold” rating and issued a $60.00 target price on shares of IAC/InterActive in a report on Monday, June 27th. BMO Capital Markets reissued an “outperform” rating and issued a $75.00 target price on shares of IAC/InterActive in a report on Friday, July 29th. Finally, Susquehanna reissued a “positive” rating and issued a $74.00 target price on shares of IAC/InterActive in a report on Monday, August 8th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $69.31.
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Shares of IAC/InterActive (NYSE:IAC) traded up 0.15% during mid-day trading on Wednesday, reaching $62.09. The company’s stock had a trading volume of 431,510 shares. The company’s market capitalization is $4.94 billion. IAC/InterActive has a 1-year low of $38.82 and a 1-year high of $72.94. The company’s 50 day moving average price is $60.19 and its 200-day moving average price is $55.57.
IAC/InterActive (NYSE:IAC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The firm earned $745.40 million during the quarter, compared to analyst estimates of $748.73 million. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Analysts predict that IAC/InterActive will post $2.58 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Canandaigua National Bank & Trust Co. acquired a new position in shares of IAC/InterActive during the third quarter worth about $234,000. Osborn Rohs Williams & Donohoe Ltd purchased a new stake in IAC/InterActive during the third quarter worth $250,000. Nisa Investment Advisors LLC purchased a new stake in IAC/InterActive during the third quarter worth $825,000. Nomura Holdings Inc. purchased a new stake in IAC/InterActive during the second quarter worth $7,044,000. Finally, Cowen Group Inc. purchased a new stake in IAC/InterActive during the second quarter worth $2,269,000.
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