BidaskClub Upgrades IAC/InterActiveCorp (IAC) to Buy

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IAC/InterActiveCorp (NASDAQ:IAC) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other brokerages have also issued reports on IAC. Zacks Investment Research lowered IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. UBS Group lifted their price target on IAC/InterActiveCorp from $224.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Jefferies Financial Group boosted their target price on 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. Nomura began coverage on IAC/InterActiveCorp in a report on Thursday, October 11th. They issued a “buy” rating and a $246.00 target price for the company. Finally, Benchmark restated a “buy” rating and issued a $260.00 target price (up from $204.00) on shares of IAC/InterActiveCorp in a report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty have issued a buy rating to the company’s stock. IAC/InterActiveCorp presently has a consensus rating of “Buy” and an average target price of $229.09.

Shares of IAC/InterActiveCorp stock opened at $201.83 on Thursday. The stock has a market cap of $16.70 billion, a PE ratio of 262.12, a PEG ratio of 2.07 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.77 and a quick ratio of 2.77. IAC/InterActiveCorp has a 52-week low of $128.80 and a 52-week high of $223.54.

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

In related news, CFO Glenn Schiffman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 4,000 shares of company stock valued at $777,010. Corporate insiders own 10.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of IAC/InterActiveCorp by 3.1% during the third quarter. BlackRock Inc. now owns 4,502,735 shares of the company’s stock worth $975,832,000 after buying an additional 134,915 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of IAC/InterActiveCorp by 5.9% during the third quarter. Canada Pension Plan Investment Board now owns 4,156,975 shares of the company’s stock worth $900,900,000 after buying an additional 229,800 shares during the last quarter. Morgan Stanley lifted its holdings in shares of IAC/InterActiveCorp by 153.4% during the third quarter. Morgan Stanley now owns 1,471,397 shares of the company’s stock worth $318,880,000 after buying an additional 890,730 shares during the last quarter. FMR LLC lifted its holdings in shares of IAC/InterActiveCorp by 118.6% during the third quarter. FMR LLC now owns 1,423,857 shares of the company’s stock worth $308,578,000 after buying an additional 772,398 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of IAC/InterActiveCorp by 12.6% during the third quarter. Janus Henderson Group PLC now owns 991,636 shares of the company’s stock worth $214,915,000 after buying an additional 110,919 shares during the last quarter. Institutional investors own 86.63% 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.

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Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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