Piper Sandler Equities Analysts Reduce Earnings Estimates for IAC/InterActiveCorp (NASDAQ:IAC)
IAC/InterActiveCorp (NASDAQ:IAC) – Piper Sandler reduced their FY2020 earnings estimates for shares of IAC/InterActiveCorp in a note issued to investors on Tuesday, January 12th. Piper Sandler analyst T. Champion now forecasts that the company will earn ($0.87) per share for the year, down from their prior forecast of ($0.82). Piper Sandler currently has a “Overweight” rating and a $211.00 target price on the stock. Piper Sandler also issued estimates for IAC/InterActiveCorp’s Q4 2021 earnings at ($0.40) EPS, FY2021 earnings at ($1.72) EPS and FY2022 earnings at ($0.70) EPS.
Other equities research analysts have also issued research reports about the company. Credit Suisse Group upped their price objective on IAC/InterActiveCorp from $199.00 to $208.00 in a research report on Monday, November 9th. Wedbush increased their target price on IAC/InterActiveCorp from $161.00 to $172.00 and gave the company an “outperform” rating in a research report on Monday, November 9th. Barclays increased their target price on IAC/InterActiveCorp from $145.00 to $163.00 in a research report on Monday, November 9th. Wells Fargo & Company increased their target price on IAC/InterActiveCorp from $155.00 to $165.00 and gave the company a “positive” rating in a research report on Tuesday, November 10th. They noted that the move was a valuation call. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on IAC/InterActiveCorp from $165.00 to $180.00 in a research note on Monday, November 9th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $190.58.
IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings data on Thursday, November 5th. The company reported $2.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $2.59. The company had revenue of $788.38 million during the quarter, compared to analysts’ expectations of $767.89 million. During the same quarter in the prior year, the company posted $1.35 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in IAC. American International Group Inc. boosted its holdings in IAC/InterActiveCorp by 37.8% during the 2nd quarter. American International Group Inc. now owns 2,052 shares of the company’s stock valued at $664,000 after acquiring an additional 563 shares during the period. First Republic Investment Management Inc. purchased a new position in shares of IAC/InterActiveCorp in the 2nd quarter valued at about $329,000. Baird Financial Group Inc. purchased a new position in shares of IAC/InterActiveCorp in the 2nd quarter valued at about $322,000. Captrust Financial Advisors boosted its stake in shares of IAC/InterActiveCorp by 19.9% in the 2nd quarter. Captrust Financial Advisors now owns 5,297 shares of the company’s stock valued at $652,000 after buying an additional 880 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of IAC/InterActiveCorp during the 2nd quarter worth about $293,000. Institutional investors own 6.06% of the company’s stock.
IAC/InterActiveCorp Company Profile
IAC/InterActiveCorp operates as a media and internet company worldwide. It operates various platforms, such as Ask.com that empowers people to find, learn, and explore answers from any device or location; Bluecrew, an on-demand platform for flexible W-2 work job seekers for sustainable and reliable employment that fits their schedules across a range of industries, including warehousing, logistics, e-commerce, events, delivery, and hospitality; Care.com, a leading platform for finding and managing family care; and Dotdash that help people to find answers and solve problems.
Featured Story: Margin
Receive News & Ratings for IAC/InterActiveCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAC/InterActiveCorp and related companies with MarketBeat.com's FREE daily email newsletter.