IAC/InterActiveCorp (NASDAQ:IAC)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Jaffray Companies in a research report issued on Monday. They currently have a $197.00 target price on the stock, up from their prior target price of $191.00. Piper Jaffray Companies’ price target indicates a potential upside of 43.60% from the stock’s current price.
The analysts wrote, “FEYE reported strong 4Q17 results exceeding on revenue, EPS, billings and cash flow metrics. The strong performance was driven by 1) improved execution across all product lines and geographies (EMEA shined), 2) FEYE’s Helix platform experiencing strong traction with 116 new customers booked during 4Q (double its 3Q count) as the platform’s automation capabilities resonate well with customers and 3) FEYE’s end-point solutions finding a ripe adoption environment as its Enterprise Protection Platform (EPP) covers not only Windows but iOS and Android operating systems as well. FEYE’s elevated FY18 outlook (~10% YoY revenue growth) is supported by improved billings levels and we believe the company remains well positioned as FY18 unfolds. We are adjusting our estimates higher while reiterating our Outperform and $22 PT.””
IAC has been the subject of several other reports. BidaskClub raised shares of IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a report on Friday, October 13th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $150.00 price objective on shares of IAC/InterActiveCorp in a report on Wednesday, October 11th. Needham & Company LLC raised their price objective on shares of IAC/InterActiveCorp from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Zacks Investment Research raised shares of IAC/InterActiveCorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, ValuEngine downgraded shares of IAC/InterActiveCorp from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $151.09.
IAC/InterActiveCorp (NASDAQ:IAC) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.14). The business had revenue of $828.40 million during the quarter, compared to the consensus estimate of $810.36 million. IAC/InterActiveCorp had a return on equity of 4.26% and a net margin of 11.81%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. equities analysts anticipate that IAC/InterActiveCorp will post 0.55 earnings per share for the current year.
In related news, Director Edgar Bronfman, Jr. sold 2,289 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $122.94, for a total transaction of $281,409.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joseph Levin sold 78,500 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $128.83, for a total transaction of $10,113,155.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 175,929 shares of company stock worth $22,516,569. Corporate insiders own 10.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC bought a new position in shares of IAC/InterActiveCorp during the 3rd quarter valued at $105,000. Cerebellum GP LLC bought a new position in shares of IAC/InterActiveCorp during the 4th quarter valued at $124,000. LS Investment Advisors LLC bought a new position in shares of IAC/InterActiveCorp during the 4th quarter valued at $146,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of IAC/InterActiveCorp during the 4th quarter valued at $147,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of IAC/InterActiveCorp during the 2nd quarter valued at $205,000. 86.50% of the stock is currently owned by institutional investors.
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IAC/InterActiveCorp Company Profile
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.
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