IAC/InterActiveCorp (IAC) Given Buy Rating at Guggenheim
Guggenheim restated their buy rating on shares of IAC/InterActiveCorp (NASDAQ:IAC) in a report published on Tuesday morning. Guggenheim currently has a $135.00 target price on the stock, up from their previous target price of $130.00.
A number of other brokerages also recently issued reports on IAC. Bank of America Corporation reissued a buy rating and set a $133.00 price target on shares of IAC/InterActiveCorp in a research report on Wednesday, June 14th. Cowen and Company reaffirmed a buy rating and issued a $115.00 price objective on shares of IAC/InterActiveCorp in a report on Sunday, July 30th. Aegis reiterated a buy rating and set a $115.00 target price on shares of IAC/InterActiveCorp in a research report on Thursday, August 3rd. Wells Fargo & Company reiterated a buy rating on shares of IAC/InterActiveCorp in a research report on Thursday, August 3rd. Finally, UBS AG reiterated a buy rating and set a $126.00 target price (up from $115.00) on shares of IAC/InterActiveCorp in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $111.95.
Shares of IAC/InterActiveCorp (NASDAQ:IAC) traded up 0.751% on Tuesday, reaching $122.735. 775,092 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $112.17 and its 200 day moving average price is $100.03. IAC/InterActiveCorp has a 12 month low of $60.39 and a 12 month high of $123.05. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 43.865 and a beta of 1.14.
IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.24. IAC/InterActiveCorp had a net margin of 7.66% and a return on equity of 9.16%. The company had revenue of $767.39 million during the quarter, compared to the consensus estimate of $758.01 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Equities research analysts predict that IAC/InterActiveCorp will post $3.08 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its position in IAC/InterActiveCorp by 25,135.6% in the first quarter. BlackRock Inc. now owns 3,192,055 shares of the company’s stock valued at $235,319,000 after purchasing an additional 3,179,406 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of IAC/InterActiveCorp by 44.3% during the second quarter. Canada Pension Plan Investment Board now owns 3,175,100 shares of the company’s stock valued at $327,797,000 after purchasing an additional 975,000 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of IAC/InterActiveCorp during the second quarter worth about $94,773,000. Steadfast Capital Management LP grew its holdings in shares of IAC/InterActiveCorp by 56.3% during the second quarter. Steadfast Capital Management LP now owns 2,411,372 shares of the company’s stock worth $248,950,000 after purchasing an additional 868,790 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of IAC/InterActiveCorp by 359.0% during the second quarter. Renaissance Technologies LLC now owns 802,027 shares of the company’s stock worth $82,801,000 after purchasing an additional 627,300 shares during the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.
IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group’s online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands.
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