After Nomura and Merrill Lynch gave IAC/InterActiveCorp (NASDAQ: IAC) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jason Helfstein assigned a Buy rating to IAC/InterActiveCorp today and set a price target of $275. The company’s shares opened today at $211.12, close to its 52-week high of $223.54.
Helfstein wrote:
“We are adjusting our model to reflect IAC’s new segmentation: separate Vimeo (previously included in Video) and Dotdash (was in Publishing) operating segments. As a result, the Video and Publishing segments have been eliminated, with the remaining businesses consolidating under the Emerging & Other segment (previously Other). MTCH, ANGI and Application segments have all remained unchanged. Our new $275 price target (was $240) assumes 8x ANGI at our $21 price target and MTCH at market.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 16.5% and a 61.9% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Spotify Technology SA.
Currently, the analyst consensus on IAC/InterActiveCorp is a Strong Buy with an average price target of $236.93, which is a 12.2% upside from current levels. In a report issued on January 28, Barclays also maintained a Buy rating on the stock with a $242 price target.
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IAC/InterActiveCorp’s market cap is currently $17.62B and has a P/E ratio of 43.05. The company has a Price to Book ratio of 6.78.
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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.
