IAC/InterActiveCorp (NASDAQ:IAC)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a research report issued on Thursday. They presently have a $260.00 price objective on the stock. Benchmark’s price target points to a potential upside of 35.66% from the stock’s current price.
The analysts wrote, “Wellness category. We believe Dotdash has differentiated themselves from the competition in 3 key ways: 1) With financial backing from the rest of search and the parent company, Dotdash has been able to focus on developing an “evergreen” portfolio of content which receives more consistent updates than the peer group, remaining relevant and driving higher ad rates despite fewer ads per page, while also seeing organic search ranking improvements; 2) Company’s history at About and given all the prior brand work, Dotdash spends very little on paid channel marketing, allowing for a superior margin profile; 3) Dotdash/IAC’s willingness to spend money as others contracted allowed for the creation of a superior tech platform that enjoys a significant speed advantage on mobile, increasing user engagement.””
Several other analysts have also recently weighed in on the company. BidaskClub cut IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group raised their price target on IAC/InterActiveCorp from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, October 4th. They noted that the move was a valuation call. Zacks Investment Research cut IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. UBS Group raised 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. Finally, Guggenheim cut 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. IAC/InterActiveCorp presently has a consensus rating of “Buy” and a consensus price target of $207.18.
Shares of IAC opened at $191.66 on Thursday. The stock has a market cap of $18.03 billion, a P/E ratio of 248.91, a P/E/G ratio of 2.71 and a beta of 1.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.78 and a current ratio of 2.78. IAC/InterActiveCorp has a 52-week low of $118.83 and a 52-week high of $223.54.
IAC/InterActiveCorp (NASDAQ:IAC) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $1.50. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. IAC/InterActiveCorp had a return on equity of 10.24% and a net margin of 13.09%. The firm’s quarterly revenue was up 38.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. As a group, research analysts expect that IAC/InterActiveCorp will post 5.34 EPS for the current year.
In other news, CFO Glenn Schiffman sold 2,000 shares of IAC/InterActiveCorp stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $217.22, for a total value of $434,440.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 10.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAC. Massachusetts Financial Services Co. MA bought a new stake in shares of IAC/InterActiveCorp during the second quarter valued at approximately $12,722,000. Aperio Group LLC boosted its position in shares of IAC/InterActiveCorp by 8.8% during the second quarter. Aperio Group LLC now owns 39,445 shares of the company’s stock valued at $6,015,000 after purchasing an additional 3,186 shares in the last quarter. TD Asset Management Inc. raised its stake in IAC/InterActiveCorp by 6.4% during the second quarter. TD Asset Management Inc. now owns 98,934 shares of the company’s stock valued at $15,086,000 after buying an additional 5,994 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in IAC/InterActiveCorp by 8.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 257,291 shares of the company’s stock valued at $39,234,000 after buying an additional 20,817 shares during the last quarter. Finally, First Manhattan Co. raised its stake in IAC/InterActiveCorp by 39.1% during the second quarter. First Manhattan Co. now owns 917,744 shares of the company’s stock valued at $139,946,000 after buying an additional 258,141 shares during the last quarter. Institutional investors own 86.41% 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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