IAC/InterActiveCorp (IAC) Given “Buy” Rating at Needham & Company LLC

IAC/InterActiveCorp (NASDAQ:IAC)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued on Friday, May 5th. They presently have a $110.00 price objective on the stock, up from their previous price objective of $84.00. Needham & Company LLC’s price objective would suggest a potential upside of 6.60% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Aegis boosted their target price on IAC/InterActiveCorp from $80.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Zacks Investment Research upgraded IAC/InterActiveCorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 20th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $85.00 price target (up previously from $81.00) on shares of IAC/InterActiveCorp in a report on Friday, February 3rd. Credit Suisse Group AG assumed coverage on shares of IAC/InterActiveCorp in a report on Wednesday, January 11th. They issued an “outperform” rating and a $83.00 price target on the stock. Finally, Guggenheim raised shares of IAC/InterActiveCorp from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Friday, May 5th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $92.94.

Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

IAC/InterActiveCorp (NASDAQ:IAC) traded up 1.37% during trading on Friday, hitting $103.19. The company had a trading volume of 913,379 shares. The company’s market capitalization is $8.02 billion. IAC/InterActiveCorp has a 12-month low of $52.23 and a 12-month high of $104.14. The firm has a 50-day moving average of $86.72 and a 200 day moving average of $74.35.

IAC/InterActiveCorp (NASDAQ:IAC) last issued its earnings results on Wednesday, May 3rd. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.04. The firm had revenue of $760.80 million during the quarter, compared to analyst estimates of $718.31 million. IAC/InterActiveCorp had a negative net margin of 1.31% and a positive return on equity of 8.91%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, equities research analysts forecast that IAC/InterActiveCorp will post $3.05 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in IAC. IBM Retirement Fund acquired a new position in shares of IAC/InterActiveCorp during the third quarter worth $415,000. UMB Bank N A MO purchased a new stake in IAC/InterActiveCorp during the third quarter worth approximately $433,000. Stoneridge Investment Partners LLC purchased a new stake in IAC/InterActiveCorp during the third quarter worth approximately $875,000. Svenska Handelsbanken AB publ purchased a new stake in IAC/InterActiveCorp during the third quarter worth approximately $531,000. Finally, Peregrine Capital Management LLC purchased a new stake in IAC/InterActiveCorp during the third quarter worth approximately $9,159,000. 85.76% of the stock is owned by institutional investors and hedge funds.

About IAC/InterActiveCorp

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.

12 Month Chart for NASDAQ:IAC

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