IAC/InterActiveCorp (NASDAQ:IAC) Given Average Recommendation of “Buy” by Analysts
Shares of IAC/InterActiveCorp (NASDAQ:IAC) have been given a consensus recommendation of “Buy” by the sixteen ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $199.57.
A number of brokerages have recently weighed in on IAC. Barclays boosted their target price on IAC/InterActiveCorp from $150.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. Truist Financial boosted their target price on IAC/InterActiveCorp from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 8th. KeyCorp dropped their price objective on IAC/InterActiveCorp from $189.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, November 4th. Zacks Investment Research downgraded IAC/InterActiveCorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 11th. Finally, JPMorgan Chase & Co. assumed coverage on IAC/InterActiveCorp in a research note on Monday, January 3rd. They issued a “buy” rating and a $175.00 price objective on the stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R.P. Boggs & Co. increased its stake in IAC/InterActiveCorp by 9.6% in the third quarter. R.P. Boggs & Co. now owns 28,717 shares of the company’s stock valued at $3,742,000 after acquiring an additional 2,524 shares during the last quarter. Invesco Ltd. increased its stake in IAC/InterActiveCorp by 10.2% in the second quarter. Invesco Ltd. now owns 216,329 shares of the company’s stock valued at $33,351,000 after acquiring an additional 20,079 shares during the last quarter. SG Americas Securities LLC increased its stake in IAC/InterActiveCorp by 904.1% in the second quarter. SG Americas Securities LLC now owns 21,328 shares of the company’s stock valued at $3,288,000 after acquiring an additional 19,204 shares during the last quarter. Accuvest Global Advisors purchased a new stake in IAC/InterActiveCorp during the second quarter valued at about $2,587,000. Finally, Magnolia Capital Advisors LLC purchased a new stake in IAC/InterActiveCorp during the third quarter valued at about $1,314,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.
IAC traded down $6.47 during midday trading on Friday, reaching $127.06. 530,612 shares of the company were exchanged, compared to its average volume of 555,151. The company’s fifty day moving average price is $130.62 and its 200 day moving average price is $135.15. The company has a market cap of $10.64 billion, a price-to-earnings ratio of 10.84 and a beta of 1.37. IAC/InterActiveCorp has a one year low of $119.20 and a one year high of $179.12.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $1.07. The company had revenue of $924.10 million for the quarter, compared to the consensus estimate of $864.37 million. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.63) earnings per share. On average, sell-side analysts forecast that IAC/InterActiveCorp will post -1.98 EPS for the current year.
IAC is a media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the Internet Services & Retailing sector for many years, IAC’s family of websites is one of the largest in the world, with over two billion monthly visits reaching users in more than 190 countries.
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