IAC/InterActive (IAC) Upgraded to Buy at Zacks Investment Research
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. “
A number of other equities research analysts also recently commented on the company. Jefferies Group reiterated a hold rating and set a $60.00 price objective on shares of IAC/InterActive in a research report on Monday, July 18th. Needham & Company LLC reiterated a buy rating and set a $70.00 price objective on shares of IAC/InterActive in a research report on Monday, August 1st. BMO Capital Markets reiterated an outperform rating and set a $75.00 price objective on shares of IAC/InterActive in a research report on Tuesday, August 23rd. Axiom Securities reiterated a buy rating and set a $80.00 price objective (up previously from $74.00) on shares of IAC/InterActive in a research report on Friday, October 7th. Finally, Susquehanna restated a positive rating and issued a $74.00 target price on shares of IAC/InterActive in a report on Monday, August 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $69.31.
Shares of IAC/InterActive (NYSE:IAC) opened at 61.39 on Wednesday. IAC/InterActive has a 52-week low of $38.82 and a 52-week high of $72.94. The firm’s 50-day moving average price is $60.19 and its 200-day moving average price is $55.57. The stock’s market cap is $4.89 billion.
IAC/InterActive (NYSE:IAC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.08. The firm earned $745.40 million during the quarter, compared to the consensus estimate of $748.73 million. During the same period in the previous year, the business earned $0.85 EPS. The business’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts forecast that IAC/InterActive will post $2.58 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in IAC/InterActive during the second quarter worth approximately $301,777,000. Boston Partners acquired a new stake in IAC/InterActive during the second quarter worth approximately $230,954,000. Artisan Partners Limited Partnership acquired a new stake in IAC/InterActive during the second quarter worth approximately $123,187,000. BlackRock Institutional Trust Company N.A. acquired a new stake in IAC/InterActive during the second quarter worth approximately $114,075,000. Finally, Luxor Capital Group LP acquired a new stake in IAC/InterActive during the second quarter worth approximately $113,704,000.
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