Piper Jaffray Companies Reaffirms “Overweight” Rating for IAC/InterActiveCorp (IAC)
IAC/InterActiveCorp (NASDAQ:IAC)‘s stock had its “overweight” rating restated by investment analysts at Piper Jaffray Companies in a report issued on Wednesday. They currently have a $160.00 price target on the stock, up from their previous price target of $152.00. Piper Jaffray Companies’ target price points to a potential upside of 30.69% from the company’s current price.
Several other research firms also recently weighed in on IAC. TheStreet raised shares of IAC/InterActiveCorp from a “c+” rating to an “a-” rating in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $127.00 price objective (up previously from $120.00) on shares of IAC/InterActiveCorp in a report on Wednesday, August 9th. Aegis reaffirmed a “buy” rating and issued a $125.00 price objective (up previously from $115.00) on shares of IAC/InterActiveCorp in a report on Tuesday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective (up previously from $110.00) on shares of IAC/InterActiveCorp in a report on Wednesday, August 9th. Finally, Barclays PLC reissued an “overweight” rating and issued a $130.00 price target (up from $105.00) on shares of IAC/InterActiveCorp in a report on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. IAC/InterActiveCorp has an average rating of “Buy” and a consensus target price of $112.70.
IAC/InterActiveCorp (NASDAQ:IAC) traded up 0.50% during mid-day trading on Wednesday, hitting $122.43. 1,016,217 shares of the stock traded hands. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of 43.76 and a beta of 1.14. IAC/InterActiveCorp has a 1-year low of $60.39 and a 1-year high of $123.05. The stock has a 50-day moving average of $112.17 and a 200 day moving average of $100.03.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.24. The business had revenue of $767.39 million during the quarter, compared to the consensus estimate of $758.01 million. IAC/InterActiveCorp had a net margin of 7.66% and a return on equity of 9.16%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. On average, equities analysts expect that IAC/InterActiveCorp will post $3.08 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the business. Comerica Bank lifted its stake in IAC/InterActiveCorp by 0.7% during the first quarter. Comerica Bank now owns 3,269 shares of the company’s stock valued at $272,000 after buying an additional 23 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of IAC/InterActiveCorp by 0.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,676 shares of the company’s stock valued at $689,000 after purchasing an additional 25 shares during the period. US Bancorp DE increased its holdings in shares of IAC/InterActiveCorp by 0.6% in the 2nd quarter. US Bancorp DE now owns 5,261 shares of the company’s stock valued at $543,000 after purchasing an additional 30 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of IAC/InterActiveCorp by 1.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,620 shares of the company’s stock valued at $581,000 after purchasing an additional 104 shares during the period. Finally, Keybank National Association OH increased its holdings in shares of IAC/InterActiveCorp by 1.7% in the 2nd quarter. Keybank National Association OH now owns 8,987 shares of the company’s stock valued at $928,000 after purchasing an additional 150 shares during the period. 85.19% of the stock is owned by institutional investors.
IAC/InterActiveCorp Company Profile
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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