IAC/InterActive (IAC) Received its Third Buy in a Row
After Wedbush and Piper Sandler gave IAC/InterActive (NASDAQ: IAC) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Brian Fitzgerald maintained a Buy rating on IAC/InterActive yesterday. The company’s shares closed last Tuesday at $198.65.
According to TipRanks.com, Fitzgerald is a top 25 analyst with an average return of 43.0% and a 82.1% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as Uber Technologies, ANGI Homeservices, and LiveRamp Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for IAC/InterActive with a $193.93 average price target, which is a 1.4% upside from current levels. In a report issued on January 11, Jefferies also maintained a Buy rating on the stock with a $225.00 price target.
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Based on IAC/InterActive’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $788 million and net profit of $185 million. In comparison, last year the company earned revenue of $689 million and had a net profit of $13.79 million.
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IAC is an Internet media company with segments that include ANGI Homeservices (51% of total revenue), Vimeo (9%), Dotdash (7%), applications (14%), and emerging and other (19%). The firm spun off the narrow-moat dating app provider, Match Group, in second-quarter 2020.