IAC/InterActiveCorp (NASDAQ:IAC) Earns “Buy” Rating from Wells Fargo & Co

IAC/InterActiveCorp (NASDAQ:IAC)‘s stock had its “buy” rating restated by Wells Fargo & Co in a research note issued on Friday, TipRanks reports.

Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded IAC/InterActiveCorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Barclays lifted their price target on IAC/InterActiveCorp from $295.00 to $311.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on IAC/InterActiveCorp from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. BMO Capital Markets lifted their price target on IAC/InterActiveCorp from $319.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Citigroup lifted their price target on IAC/InterActiveCorp from $285.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $287.37.

IAC/InterActiveCorp stock traded down $9.43 during midday trading on Friday, reaching $245.03. 1,121,800 shares of the company’s stock were exchanged, compared to its average volume of 735,412. IAC/InterActiveCorp has a 52 week low of $158.29 and a 52 week high of $268.72. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.65. The company has a market cap of $21.52 billion, a price-to-earnings ratio of 43.83, a price-to-earnings-growth ratio of 2.61 and a beta of 0.96. The firm has a 50-day moving average price of $234.86.

IAC/InterActiveCorp (NASDAQ:IAC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.27. IAC/InterActiveCorp had a return on equity of 12.76% and a net margin of 11.99%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company posted $2.32 earnings per share. IAC/InterActiveCorp’s quarterly revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts expect that IAC/InterActiveCorp will post 4.8 earnings per share for the current year.

In other IAC/InterActiveCorp news, CFO Glenn Schiffman sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $225.00, for a total transaction of $225,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 7,000 shares of company stock valued at $1,589,220 over the last 90 days. Company insiders own 11.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Next Capital Management LLC acquired a new position in IAC/InterActiveCorp during the second quarter valued at approximately $28,000. Valeo Financial Advisors LLC acquired a new position in IAC/InterActiveCorp during the second quarter valued at approximately $29,000. Icon Wealth Partners LLC acquired a new position in IAC/InterActiveCorp during the first quarter valued at approximately $32,000. Harel Insurance Investments & Financial Services Ltd. raised its position in IAC/InterActiveCorp by 78.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 193 shares of the company’s stock valued at $42,000 after purchasing an additional 85 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. raised its position in IAC/InterActiveCorp by 40.3% during the first quarter. Winslow Evans & Crocker Inc. now owns 216 shares of the company’s stock valued at $48,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

About IAC/InterActiveCorp

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.

See Also: Equity Income

Analyst Recommendations for IAC/InterActiveCorp (NASDAQ:IAC)

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