Piper Jaffray Companies Reiterates “Overweight” Rating for IAC/InterActiveCorp (IAC)
IAC/InterActiveCorp (NASDAQ:IAC)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Jaffray Companies in a report issued on Wednesday. They currently have a $160.00 price objective on the stock, up from their prior price objective of $152.00. Piper Jaffray Companies’ price objective would suggest a potential upside of 31.54% from the company’s previous close.
Several other research firms have also recently issued reports on IAC. Zacks Investment Research raised shares of IAC/InterActiveCorp from a “sell” rating to a “hold” rating in a research note on Wednesday. Guggenheim reissued a “buy” rating and set a $135.00 target price (up from $130.00) on shares of IAC/InterActiveCorp in a research note on Tuesday. BidaskClub raised shares of IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Benchmark Co. boosted their target price on shares of IAC/InterActiveCorp from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. Finally, Aegis reissued a “buy” rating and set a $125.00 target price (up from $115.00) on shares of IAC/InterActiveCorp in a research note on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. IAC/InterActiveCorp presently has an average rating of “Buy” and an average target price of $115.68.
IAC/InterActiveCorp (IAC) opened at 121.64 on Wednesday. The company has a market capitalization of $9.70 billion, a P/E ratio of 43.47 and a beta of 1.14. IAC/InterActiveCorp has a 1-year low of $60.39 and a 1-year high of $123.49. The firm has a 50-day moving average price of $113.14 and a 200 day moving average price of $100.35.
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 return on equity of 9.16% and a net margin of 7.66%. The firm 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 company earned $0.42 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that IAC/InterActiveCorp will post $3.07 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. ClariVest Asset Management LLC acquired a new position in IAC/InterActiveCorp during the 2nd quarter worth $133,000. FNY Partners Fund LP acquired a new position in shares of IAC/InterActiveCorp during the second quarter valued at about $152,000. First Mercantile Trust Co. acquired a new position in shares of IAC/InterActiveCorp during the second quarter valued at about $193,000. Virtu Financial LLC acquired a new position in shares of IAC/InterActiveCorp during the second quarter valued at about $201,000. Finally, Reliance Trust Co. of Delaware acquired a new position in shares of IAC/InterActiveCorp during the second quarter valued at about $202,000. 85.19% of the stock is owned by hedge funds and other institutional investors.
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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