IAC/InterActiveCorp (IAC) Receives “Buy” Rating from Guggenheim
Guggenheim restated their buy rating on shares of IAC/InterActiveCorp (NASDAQ:IAC) in a research note released on Tuesday, October 3rd. Guggenheim currently has a $135.00 price objective on the stock, up from their previous price objective of $130.00.
Other equities analysts have also recently issued research reports about the company. Barclays PLC reaffirmed an overweight rating and set a $130.00 target price (up previously from $105.00) on shares of IAC/InterActiveCorp in a research note on Friday, August 4th. Aegis reaffirmed a buy rating and set a $125.00 target price (up previously from $115.00) on shares of IAC/InterActiveCorp in a research note on Tuesday, August 15th. Bank of America Corporation reiterated a buy rating and set a $133.00 price target on shares of IAC/InterActiveCorp in a report on Wednesday, June 14th. Piper Jaffray Companies lifted their price target on IAC/InterActiveCorp to $145.00 and gave the company an overweight rating in a report on Wednesday, August 16th. Finally, TheStreet upgraded IAC/InterActiveCorp from a c+ rating to an a- rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $129.56.
IAC/InterActiveCorp (NASDAQ:IAC) traded up 0.58% during mid-day trading on Tuesday, hitting $125.53. 505,929 shares of the stock were exchanged. The company has a 50 day moving average price of $116.37 and a 200 day moving average price of $102.53. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 44.86 and a beta of 1.14. IAC/InterActiveCorp has a 52-week low of $60.39 and a 52-week high of $127.28.
IAC/InterActiveCorp (NASDAQ:IAC) last released its earnings results on Wednesday, August 2nd. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.24. IAC/InterActiveCorp had a return on equity of 9.16% and a net margin of 7.66%. The company had revenue of $767.39 million for the quarter, compared to analysts’ expectations of $758.01 million. During the same quarter in the previous year, the business posted $0.42 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts anticipate that IAC/InterActiveCorp will post $3.07 EPS for the current year.
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A number of large investors have recently made changes to their positions in IAC. US Bancorp DE boosted its stake in IAC/InterActiveCorp by 22.5% in the first quarter. US Bancorp DE now owns 5,231 shares of the company’s stock worth $386,000 after purchasing an additional 960 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in IAC/InterActiveCorp by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 352,000 shares of the company’s stock worth $25,949,000 after purchasing an additional 4,000 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in IAC/InterActiveCorp by 16.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,079 shares of the company’s stock worth $227,000 after purchasing an additional 430 shares in the last quarter. Comerica Bank boosted its stake in IAC/InterActiveCorp by 0.7% in the first quarter. Comerica Bank now owns 3,269 shares of the company’s stock worth $272,000 after purchasing an additional 23 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in IAC/InterActiveCorp by 15.5% in the first quarter. UBS Asset Management Americas Inc. now owns 56,047 shares of the company’s stock worth $4,132,000 after purchasing an additional 7,535 shares in the last quarter. Hedge funds and other institutional investors own 85.19% 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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