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IAC/InterActiveCorp (IAC) Received its Third Buy in a Row


After Nomura and Benchmark Co. gave IAC/InterActiveCorp (NASDAQ: IAC) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jason Helfstein maintained a Buy rating on IAC/InterActiveCorp today and set a price target of $240. The company’s shares opened today at $184.26.

Helfstein noted:

“We are maintaining our Outperform rating, but lowering our price target to $240 (was $248), primarily attributable to the drop in EV from MTCH ($9.6B vs. $11.1B in 2Q calc). We remain bullish on IAC’s portfolio with significant revenue growth in ANGI’s Marketplace segment (up 36% y/y) and growing profitability within MTCH. Publishing revenue increased 57% y/y on the strength of Dotdash, up 35% y/y. Vimeo engagement continues to rise, with new users consuming 2x more content than the original cohort of consumers. Mgmt intends to report Dotdash and Vimeo as standalone units on a go-forward basis.”

According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 15.7% and a 60.5% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Match Group Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IAC/InterActiveCorp with a $242.08 average price target, implying a 31.4% upside from current levels. In a report released today, Barclays also maintained a Buy rating on the stock with a $227 price target.

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The company has a one-year high of $223.54 and a one-year low of $118.83. Currently, IAC/InterActiveCorp has an average volume of 945.2K.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Michael Schwerdtman, the SVP & Controller of IAC sold 18,750 shares for a total of $3,568,544.

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.

IAC/InterActiveCorp. engages in the provision of media and Internet services. It operates through the following business segments: Match Group, ANGI Homeservices, Video, Applications, Publishing, and Other. The Match Group segment provides dating products, operating a portfolio of several brands, including Match, Tinder, PlentyOfFish, and OkCupid.