IAC/InterActive (NYSE:IAC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.
According to Zacks, “IAC is a leading media and Internet company. It is organized into four segments: The Match Group, which consists of dating, education and fitness businesses with brands such as Match.com, OkCupid, Tinder, The Princeton Review and DailyBurn; Search & Applications, which includes brands such as About.com, Ask.com, Dictionary.com and Investopedia; Media, which consists of businesses such as Vimeo, Electus, The Daily Beast and CollegeHumor; and eCommerce, which includes HomeAdvisor and ShoeBuy. IAC’s brands and products are among the most recognized in the world reaching users in over 200 countries. The Company is headquartered in New York City and has offices worldwide. “
A number of other research firms also recently commented on IAC. Susquehanna reiterated a “positive” rating and issued a $74.00 target price on shares of IAC/InterActive in a report on Monday, August 8th. Jefferies Group restated a “hold” rating and set a $60.00 price target on shares of IAC/InterActive in a report on Monday, July 25th. Wells Fargo & Co. upgraded shares of IAC/InterActive from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 20th. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of IAC/InterActive in a report on Monday, August 1st. Finally, BMO Capital Markets restated an “outperform” rating and set a $75.00 price target on shares of IAC/InterActive in a report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $67.00.
IAC/InterActive (NYSE:IAC) opened at 62.90 on Wednesday. IAC/InterActive has a one year low of $38.82 and a one year high of $73.15. The firm’s market cap is $5.01 billion. The firm has a 50 day moving average of $59.10 and a 200-day moving average of $54.56.
IAC/InterActive (NYSE:IAC) last released its earnings results on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $745.40 million for the quarter, compared to analyst estimates of $748.73 million. During the same quarter in the prior year, the firm earned $0.85 EPS. IAC/InterActive’s quarterly revenue was down 3.3% on a year-over-year basis. Equities research analysts forecast that IAC/InterActive will post $2.58 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Howard Hughes Medical Institute acquired a new stake in IAC/InterActive during the second quarter valued at approximately $402,000. Contrarius Investment Management Ltd acquired a new stake in IAC/InterActive during the second quarter valued at approximately $3,104,000. KBC Group NV acquired a new stake in IAC/InterActive during the second quarter valued at approximately $1,777,000. Swiss National Bank acquired a new stake in IAC/InterActive during the second quarter valued at approximately $7,178,000. Finally, Suntrust Banks Inc. acquired a new stake in IAC/InterActive during the second quarter valued at approximately $318,000.
IAC/InterActive Company Profile
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