IAC/InterActiveCorp (IAC) Rating Reiterated by Wells Fargo & Co
IAC/InterActiveCorp (NASDAQ:IAC)‘s stock had its “buy” rating reiterated by stock analysts at Wells Fargo & Co in a note issued to investors on Thursday, February 8th. They presently have a $168.00 target price on the stock. Wells Fargo & Co’s price target would suggest a potential upside of 12.19% from the company’s previous close.
The analysts wrote, “We continue to believe IAC shares offer compelling risk/reward for investors. Our current target price of $168 is based on our sum-of-the-parts model. $ 2017A 2018E 2019E CASH EPS Curr. Prior Curr. Prior Q1 (Mar.) 0.29 0.83 NC NE Q2 (June) 0.74 1.45 NC NE Q3 (Sep.) 0.55 1.65 NC NE Q4 (Dec.) 1.40 1.84 NC NE FY 2.99 5.76 NC NE CY 2.99 5.76 NE FY P/E 48.6x 25.2x NM Rev.(MM) 3,307 3,930 NE Source: Company Data, Wells Fargo Securities, LLC estimates, and Reuters NA = Not Available, NC = No Change, NE = No Estimate, NM = Not Meaningful V = Volatile, = Company is on the Priority Stock List Cash EPS exludes stock base comp Ticker IAC Price Target/Prior: $168/NC Price (02/07/2018) $145.35 52-Week Range: $72-147 Shares Outstanding: (MM) 84.5 Market Cap.: (MM) $12,282.1 S&P 500: 2,681.66 Avg. Daily Vol.: 676,540 Dividend/Yield: $0.00/0.0% LT Debt: (MM) $1,649.3 LT Debt/Total Cap.: 40.0% ROE: NE 3-5 Yr. Est. Growth Rate: 5.0% CY 2018 Est. P/C.””
Several other equities analysts also recently weighed in on IAC. Goldman Sachs Group reiterated a “buy” rating and set a $150.00 target price on shares of IAC/InterActiveCorp in a research report on Wednesday, October 11th. Jefferies Group reiterated a “buy” rating on shares of IAC/InterActiveCorp in a research report on Wednesday, October 11th. BMO Capital Markets reiterated a “buy” rating and set a $160.00 target price (up from $130.00) on shares of IAC/InterActiveCorp in a research report on Friday, October 13th. BidaskClub upgraded IAC/InterActiveCorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 13th. Finally, Barclays lifted their target price on IAC/InterActiveCorp from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, October 23rd. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. IAC/InterActiveCorp has a consensus rating of “Buy” and an average price target of $153.18.
In other news, Director David S. Rosenblatt sold 6,000 shares of IAC/InterActiveCorp stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $133.00, for a total value of $798,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph Levin sold 78,500 shares of IAC/InterActiveCorp stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $128.83, for a total value of $10,113,155.00. The disclosure for this sale can be found here. Insiders sold 175,929 shares of company stock worth $22,516,569 over the last 90 days. Company insiders own 10.60% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of IAC/InterActiveCorp by 0.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,676 shares of the company’s stock worth $689,000 after purchasing an additional 25 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of IAC/InterActiveCorp by 1.9% in the second quarter. Dynamic Technology Lab Private Ltd now owns 5,620 shares of the company’s stock worth $581,000 after purchasing an additional 104 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of IAC/InterActiveCorp by 0.6% in the second quarter. Voya Investment Management LLC now owns 26,908 shares of the company’s stock worth $2,778,000 after purchasing an additional 150 shares during the last quarter. Pillar Pacific Capital Management LLC increased its holdings in shares of IAC/InterActiveCorp by 9.7% in the fourth quarter. Pillar Pacific Capital Management LLC now owns 3,950 shares of the company’s stock worth $483,000 after purchasing an additional 350 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of IAC/InterActiveCorp by 1.5% in the fourth quarter. Macquarie Group Ltd. now owns 23,864 shares of the company’s stock worth $2,919,000 after purchasing an additional 364 shares during the last quarter. 85.60% of the stock is currently owned by hedge funds and other 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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