IAC/InterActiveCorp (NASDAQ:IAC) has been given a $315.00 target price by stock analysts at Cowen in a research note issued to investors on Wednesday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. Cowen’s target price would suggest a potential upside of 36.39% from the company’s previous close.
A number of other research analysts also recently weighed in on the stock. BidaskClub downgraded shares of IAC/InterActiveCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Aegis reiterated a “buy” rating and issued a $320.00 price objective on shares of IAC/InterActiveCorp in a research report on Tuesday, September 3rd. Nomura upped their price objective on shares of IAC/InterActiveCorp from $282.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup initiated coverage on shares of IAC/InterActiveCorp in a research report on Tuesday. They issued a “buy” rating and a $290.00 price objective for the company. Finally, ValuEngine downgraded shares of IAC/InterActiveCorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. IAC/InterActiveCorp currently has a consensus rating of “Buy” and a consensus price target of $288.69.
NASDAQ IAC traded down $2.06 on Wednesday, reaching $230.95. 656,113 shares of the company’s stock traded hands, compared to its average volume of 747,856. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 41.31 and a beta of 0.94. The stock has a 50 day moving average price of $245.44 and a 200-day moving average price of $228.81. IAC/InterActiveCorp has a fifty-two week low of $158.29 and a fifty-two week high of $268.72. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.11.
IAC/InterActiveCorp (NASDAQ:IAC) last posted its earnings results on Wednesday, August 7th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. IAC/InterActiveCorp had a net margin of 11.99% and a return on equity of 12.44%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.32 earnings per share. As a group, equities research analysts anticipate that IAC/InterActiveCorp will post 4.4 EPS for the current fiscal year.
In other news, CFO Glenn Schiffman sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $225.00, for a total value of $225,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael H. Schwerdtman sold 6,676 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $255.55, for a total transaction of $1,706,051.80. The disclosure for this sale can be found here. In the last three months, insiders sold 185,781 shares of company stock valued at $46,309,265. Corporate insiders own 11.50% of the company’s stock.
Several hedge funds have recently modified their holdings of IAC. Geode Capital Management LLC lifted its holdings in shares of IAC/InterActiveCorp by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 732,502 shares of the company’s stock worth $133,985,000 after acquiring an additional 41,411 shares during the last quarter. Stephens Inc. AR acquired a new position in shares of IAC/InterActiveCorp in the 1st quarter worth approximately $280,000. Stratos Wealth Partners LTD. acquired a new position in shares of IAC/InterActiveCorp in the 1st quarter worth approximately $223,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of IAC/InterActiveCorp by 6.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,146 shares of the company’s stock worth $2,132,000 after acquiring an additional 595 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of IAC/InterActiveCorp by 1.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 325,107 shares of the company’s stock worth $68,308,000 after acquiring an additional 4,052 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.
IAC/InterActiveCorp, together with its subsidiaries, operates as a media and Internet company in the United States and internationally. The company's Match Group segment provides subscription dating products under the Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, and other brands.
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