Zacks Investment Research Upgrades IAC/InterActiveCorp (IAC) to Buy
IAC/InterActiveCorp (NASDAQ:IAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $140.00 price target on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.20% from the stock’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 brokerages have also recently commented on IAC. BidaskClub cut shares of IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a report on Saturday. Piper Jaffray Companies raised their target price on shares of IAC/InterActiveCorp to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Bank of America Corporation reaffirmed a “buy” rating and set a $150.00 target price (up from $133.00) on shares of IAC/InterActiveCorp in a report on Tuesday, October 10th. TheStreet raised shares of IAC/InterActiveCorp from a “c+” rating to an “a-” rating in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $127.00 target price (up from $120.00) on shares of IAC/InterActiveCorp in a report on Wednesday, August 9th. One research analyst has rated the stock with a hold rating and twenty have given a buy rating to the company. IAC/InterActiveCorp presently has an average rating of “Buy” and an average target price of $132.10.
IAC/InterActiveCorp (NASDAQ IAC) traded down 0.84% during midday trading on Monday, reaching $123.67. The company’s stock had a trading volume of 424,279 shares. IAC/InterActiveCorp has a 52 week low of $60.39 and a 52 week high of $127.28. The firm has a 50 day moving average price of $119.24 and a 200-day moving average price of $105.12. The firm has a market cap of $9.86 billion, a P/E ratio of 44.20 and a beta of 1.14.
IAC/InterActiveCorp (NASDAQ:IAC) last announced its earnings results on Wednesday, August 2nd. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.24. IAC/InterActiveCorp had a net margin of 7.66% and a return on equity of 9.16%. The company had revenue of $767.39 million for the quarter, compared to analysts’ expectations of $758.01 million. During the same period last year, the firm earned $0.42 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts forecast that IAC/InterActiveCorp will post $3.08 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in IAC. ClariVest Asset Management LLC bought a new position in IAC/InterActiveCorp in the second quarter valued at approximately $133,000. FNY Partners Fund LP acquired a new stake in IAC/InterActiveCorp in the second quarter valued at approximately $152,000. First Mercantile Trust Co. acquired a new stake in IAC/InterActiveCorp in the second quarter valued at approximately $193,000. Virtu Financial LLC acquired a new stake in IAC/InterActiveCorp in the second quarter valued at approximately $201,000. Finally, Reliance Trust Co. of Delaware acquired a new stake in IAC/InterActiveCorp in the second quarter valued at approximately $202,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.
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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