IAC/InterActiveCorp (IAC) Earns Buy Rating from Bank of America Corporation
IAC/InterActiveCorp (NASDAQ:IAC)‘s stock had its “buy” rating reiterated by equities researchers at Bank of America Corporation in a research note issued to investors on Wednesday. They presently have a $133.00 price target on the stock. Bank of America Corporation’s price objective points to a potential upside of 30.64% from the stock’s previous close.
Several other research firms have also weighed in on IAC. Piper Jaffray Companies reissued an “overweight” rating and issued a $130.00 target price (up previously from $111.00) on shares of IAC/InterActiveCorp in a report on Sunday, May 28th. Susquehanna Bancshares Inc lowered their target price on IAC/InterActiveCorp from $114.00 to $94.00 and set a “positive” rating on the stock in a report on Monday, May 15th. Aegis reissued a “buy” rating and issued a $115.00 target price (up previously from $86.00) on shares of IAC/InterActiveCorp in a report on Tuesday, May 9th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price (up previously from $84.00) on shares of IAC/InterActiveCorp in a report on Friday, May 5th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of IAC/InterActiveCorp in a report on Friday, May 5th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. IAC/InterActiveCorp has an average rating of “Buy” and a consensus price target of $96.95.
Shares of IAC/InterActiveCorp (NASDAQ:IAC) traded up 0.46% during midday trading on Wednesday, reaching $101.81. 643,207 shares of the company traded hands. The firm’s market capitalization is $8.01 billion. IAC/InterActiveCorp has a 1-year low of $52.23 and a 1-year high of $107.98. The stock has a 50 day moving average price of $100.13 and a 200 day moving average price of $79.03.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its earnings results on Wednesday, May 3rd. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.04. The firm had revenue of $760.80 million during the quarter, compared to analyst estimates of $718.31 million. IAC/InterActiveCorp had a negative net margin of 0.76% and a positive return on equity of 8.43%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Analysts expect that IAC/InterActiveCorp will post $3.05 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the stock. Steadfast Capital Management LP raised its stake in shares of IAC/InterActiveCorp by 1.9% in the first quarter. Steadfast Capital Management LP now owns 1,542,582 shares of the company’s stock worth $113,719,000 after buying an additional 28,552 shares during the period. Bank of Nova Scotia acquired a new stake in shares of IAC/InterActiveCorp during the first quarter worth $3,686,000. Janus Capital Management LLC raised its stake in shares of IAC/InterActiveCorp by 539.0% in the first quarter. Janus Capital Management LLC now owns 26,201 shares of the company’s stock worth $1,931,000 after buying an additional 22,101 shares during the period. IHT Wealth Management LLC raised its stake in shares of IAC/InterActiveCorp by 1,940.8% in the first quarter. IHT Wealth Management LLC now owns 2,898 shares of the company’s stock worth $216,000 after buying an additional 2,756 shares during the period. Finally, Oak Associates Ltd. OH raised its stake in shares of IAC/InterActiveCorp by 32.0% in the first quarter. Oak Associates Ltd. OH now owns 171,423 shares of the company’s stock worth $12,637,000 after buying an additional 41,600 shares during the period. Institutional investors and hedge funds own 84.37% of the company’s stock.
IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.
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