Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Symantec Corp (NASDAQ: SYMC) and IAC/InterActiveCorp (NASDAQ: IAC).
Symantec Corp (NASDAQ: SYMC)
In a report released yesterday, Brad Zelnick from Credit Suisse maintained a Hold rating on Symantec Corp (NASDAQ: SYMC), with a price target of $26. The company’s shares closed yesterday at $21.40, close to its 52-week low of $18.85.
Zelnick observed:
“We appreciate further transparency around the nature of the Audit Committee led internal investigation. Specifically, it relates to a former employees concerns “regarding the Company’s public disclosures including commentary on historical financial results, its reporting of certain non-GAAP measures including those that could impact executive compensation programs, certain forward-looking statements, stock trading plans and retaliation.” It was reaffirmed the 10-K is unlikely to be filed in a ‘timely’ manner.”
According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 10.5% and a 64.6% success rate. Zelnick covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ultimate Software, and Microsoft Corp.
Currently, the analyst consensus on Symantec Corp is Hold and the average price target is $24, representing a 12.1% upside.
In a report released today, Jefferies also upgraded the stock to Hold with a $22 price target.
See today’s analyst top recommended stocks >>
IAC/InterActiveCorp (NASDAQ: IAC)
Aegis Capital analyst Victor Anthony reiterated a Buy rating on IAC/InterActiveCorp (NASDAQ: IAC) yesterday and set a price target of $200. The company’s shares closed yesterday at $143.71.
Anthony wrote:
“We reiterate our Buy rating and our $200 price target on the shares of IAC. The shares continue to trade at a discount to its sum-of-the-parts and the market continues to assign a negative value to the non-MTCH/ANGI assets. MTCH reported an outstanding quarter and guidance was raised above consensus. ANGI outperformed estimates and full year guidance was maintained, assuaging concerns from the previous quarter. Vimeo saw accelerating bookings growth of 29% Publishing segment has made a come back due to the vertilization strategy, which drove the Dotdash revenue up 79% YoY. Publishing segment expanded by 11pts.”
According to TipRanks.com, Anthony is a top 100 analyst with an average return of 17.6% and a 67.9% success rate. Anthony covers the Services sector, focusing on stocks such as Qurate Retail Group Inc, Pandora Media, and Cimpress.
Currently, the analyst consensus on IAC/InterActiveCorp is Strong Buy and the average price target is $192.67, representing a 34.1% upside.
In a report issued on May 2, Benchmark Co. also maintained a Buy rating on the stock with a $176 price target.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
