Piper Sandler Increases IAC/InterActiveCorp (NASDAQ:IAC) Price Target to $211.00


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IAC/InterActiveCorp (NASDAQ:IAC) had its price target hoisted by investment analysts at Piper Sandler from $205.00 to $211.00 in a report issued on Tuesday, The Fly reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 7.34% from the company’s previous close. Piper Sandler also issued estimates for IAC/InterActiveCorp’s FY2023 earnings at $0.92 EPS.

Several other equities analysts also recently issued reports on IAC. Barclays lifted their price target on shares of IAC/InterActiveCorp from $145.00 to $163.00 in a report on Monday, November 9th. Wells Fargo & Company lifted their price target on shares of IAC/InterActiveCorp from $155.00 to $165.00 and gave the company a “positive” rating in a report on Tuesday, November 10th. They noted that the move was a valuation call. Smith Barney Citigroup lifted their price target on shares of IAC/InterActiveCorp from $165.00 to $180.00 in a report on Monday, November 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of IAC/InterActiveCorp from $165.00 to $180.00 in a report on Monday, November 9th. Finally, BTIG Research lifted their price target on shares of IAC/InterActiveCorp from $180.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, December 23rd. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $190.58.

Shares of IAC/InterActiveCorp stock opened at $196.58 on Tuesday. The firm’s 50-day simple moving average is $166.50 and its 200-day simple moving average is $139.49. IAC/InterActiveCorp has a twelve month low of $100.22 and a twelve month high of $200.49.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its earnings results on Thursday, November 5th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of ($0.55) by $2.59. The business had revenue of $788.38 million for the quarter, compared to analyst estimates of $767.89 million. During the same quarter last year, the firm posted $1.35 earnings per share. IAC/InterActiveCorp’s revenue was up 11.8% on a year-over-year basis. Research analysts forecast that IAC/InterActiveCorp will post -3.32 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of IAC. Column Capital Advisors LLC boosted its holdings in shares of IAC/InterActiveCorp by 1,135.3% in the third quarter. Column Capital Advisors LLC now owns 210 shares of the company’s stock valued at $25,000 after buying an additional 193 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of IAC/InterActiveCorp in the third quarter valued at approximately $29,000. Eudaimonia Partners LLC boosted its holdings in shares of IAC/InterActiveCorp by 575.7% in the third quarter. Eudaimonia Partners LLC now owns 1,000 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the period. Paces Ferry Wealth Advisors LLC acquired a new position in shares of IAC/InterActiveCorp in the third quarter valued at approximately $29,000. Finally, Tompkins Financial Corp acquired a new position in shares of IAC/InterActiveCorp in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 6.06% of the company’s stock.

IAC/InterActiveCorp Company Profile

IAC/InterActiveCorp operates as a media and internet company worldwide. It operates various platforms, such as Ask.com that empowers people to find, learn, and explore answers from any device or location; Bluecrew, an on-demand platform for flexible W-2 work job seekers for sustainable and reliable employment that fits their schedules across a range of industries, including warehousing, logistics, e-commerce, events, delivery, and hospitality; Care.com, a leading platform for finding and managing family care; and Dotdash that help people to find answers and solve problems.

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Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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