IAC/InterActive (IAC) Now Covered by Credit Suisse Group
Equities researchers at Credit Suisse Group started coverage on shares of IAC/InterActive (NYSE:IAC) in a research note issued on Wednesday. The firm set an “outperform” rating and a $83.00 price target on the stock. Credit Suisse Group’s price target suggests a potential upside of 18.69% from the company’s previous close.
Several other brokerages have also recently issued reports on IAC. TheStreet raised shares of IAC/InterActive from a “hold” rating to a “buy” rating in a research note on Monday, November 21st. Zacks Investment Research cut shares of IAC/InterActive from a “hold” rating to a “sell” rating in a research note on Wednesday, January 4th. Aegis began coverage on shares of IAC/InterActive in a research note on Friday, November 18th. They issued a “buy” rating and a $80.00 price objective on the stock. Benchmark Co. lifted their price objective on shares of IAC/InterActive from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $91.00 price objective (up previously from $74.00) on shares of IAC/InterActive in a research note on Sunday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. IAC/InterActive currently has a consensus rating of “Buy” and an average price target of $73.11.
IAC/InterActive (NYSE:IAC) traded up 1.97% during trading on Wednesday, reaching $71.31. 179,247 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $67.02 and its 200-day moving average price is $62.04. IAC/InterActive has a 52 week low of $38.82 and a 52 week high of $71.46. The stock’s market capitalization is $5.65 billion.
IAC/InterActive (NYSE:IAC) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.05. The business earned $764.10 million during the quarter, compared to analyst estimates of $755.62 million. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities analysts expect that IAC/InterActive will post $2.54 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new stake in IAC/InterActive during the second quarter worth about $518,000. Oppenheimer & Co. Inc. acquired a new stake in IAC/InterActive during the second quarter worth about $668,000. Ameriprise Financial Inc. acquired a new stake in IAC/InterActive during the second quarter worth about $1,258,000. Scout Investments Inc. acquired a new stake in IAC/InterActive during the second quarter worth about $19,851,000. Finally, Corsair Capital Management L.P. acquired a new stake in IAC/InterActive during the second quarter worth about $30,672,000.
IAC/InterActive Company Profile
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