IAC/InterActive (NYSE:IAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $70.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.74% from the company’s previous close.
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. “
IAC has been the topic of several other research reports. Wells Fargo & Co. raised shares of IAC/InterActive from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 20th. Jefferies Group reissued a “hold” rating and issued a $60.00 price target on shares of IAC/InterActive in a research report on Tuesday, August 23rd. Axiom Securities reissued a “buy” rating on shares of IAC/InterActive in a research report on Wednesday, June 22nd. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target (up previously from $62.00) on shares of IAC/InterActive in a research report on Tuesday, June 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 target price on shares of IAC/InterActive in a report on Friday, July 29th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $69.31.
IAC/InterActive (NYSE:IAC) traded up 0.15% during trading on Wednesday, hitting $62.09. 431,510 shares of the stock traded hands. IAC/InterActive has a 12 month low of $38.82 and a 12 month high of $72.94. The company has a 50-day moving average price of $60.19 and a 200-day moving average price of $55.57. The stock’s market cap is $4.94 billion.
IAC/InterActive (NYSE:IAC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.08. The firm had revenue of $745.40 million for the quarter, compared to the consensus estimate of $748.73 million. During the same quarter in the prior year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities research analysts expect that IAC/InterActive will post $2.58 EPS for the current year.
Several large investors have recently made changes to their positions in IAC. Teacher Retirement System of Texas acquired a new stake in shares of IAC/InterActive during the second quarter worth about $609,000. Tower Research Capital LLC TRC acquired a new stake in shares of IAC/InterActive during the second quarter worth about $192,000. Swiss National Bank acquired a new stake in shares of IAC/InterActive during the second quarter worth about $7,178,000. Aviva PLC acquired a new stake in shares of IAC/InterActive during the second quarter worth about $2,400,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of IAC/InterActive during the second quarter worth about $60,838,000.
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