IAC/InterActiveCorp (IAC) Price Target Cut to $228.00

IAC/InterActiveCorp (NASDAQ:IAC) had its price target cut by Bank of America from $240.00 to $228.00 in a research note published on Tuesday. They currently have a buy rating on the stock.

Several other analysts also recently commented on IAC. Guggenheim downgraded shares of IAC/InterActiveCorp from a buy rating to a neutral rating in a report on Friday, September 21st. They noted that the move was a valuation call. BidaskClub downgraded shares of IAC/InterActiveCorp from a strong-buy rating to a buy rating in a report on Saturday, September 22nd. UBS Group lifted their target price on shares of IAC/InterActiveCorp from $224.00 to $265.00 and gave the stock a buy rating in a report on Wednesday, September 26th. Zacks Investment Research raised shares of IAC/InterActiveCorp from a hold rating to a buy rating and set a $239.00 target price for the company in a report on Wednesday, September 26th. Finally, Jefferies Financial Group lifted their target price on shares of IAC/InterActiveCorp from $240.00 to $260.00 and gave the stock a buy rating in a report on Thursday, October 4th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $229.09.

IAC/InterActiveCorp stock opened at $183.16 on Tuesday. The stock has a market cap of $15.48 billion, a PE ratio of 237.87, a PEG ratio of 1.91 and a beta of 1.04. IAC/InterActiveCorp has a fifty-two week low of $128.80 and a fifty-two week high of $223.54. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.60.



IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings data on Wednesday, November 7th. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.46. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. IAC/InterActiveCorp had a net margin of 11.39% and a return on equity of 15.84%. IAC/InterActiveCorp’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. Research analysts expect that IAC/InterActiveCorp will post 5.58 EPS for the current fiscal year.

In other news, CFO Glenn Schiffman sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $178.91, for a total value of $178,910.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.90% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in IAC. Csenge Advisory Group acquired a new position in IAC/InterActiveCorp in the 3rd quarter valued at approximately $29,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in IAC/InterActiveCorp in the 2nd quarter valued at approximately $107,000. Stratos Wealth Partners LTD. acquired a new position in IAC/InterActiveCorp in the 3rd quarter valued at approximately $131,000. Rehmann Capital Advisory Group increased its position in IAC/InterActiveCorp by 19,016.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 40,526 shares of the company’s stock valued at $187,000 after acquiring an additional 40,314 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in IAC/InterActiveCorp in the 3rd quarter valued at approximately $206,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

IAC/InterActiveCorp Company Profile

IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. It operates through Match Group, ANGI Homeservices, Video, Applications, and Publishing segments. The Match Group segment provides subscription dating products, which enable users to establish a profile and review the profiles of other users in 42 languages.

Read More: Cost of Capital Explained

Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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