After SunTrust Robinson and Benchmark Co. gave IAC/InterActiveCorp (NASDAQ: IAC) a Buy rating last month, the company received another Buy, this time from Aegis Capital. Analyst Victor Anthony maintained a Buy rating on IAC/InterActiveCorp yesterday and set a price target of $320. The company’s shares closed last Monday at $254.29, close to its 52-week high of $268.72.
Anthony observed:
“We have updated our IAC model and increased our SOTP-based price target to $320 from $315, largely on an increase in our valuation for MTCH. We believe that IAC is likely to announce that it will spin off Match Group, although we would not rule out a dual spin of ANGI and MTCH. In the event of the dual spin, we believe IAC will be well-capitalized through the spin transactions, whereby they can continue to make acquisitions to buildout the portfolio, buyback stock and possibly reinstate the dividend. Notwithstanding the capitalization aspect, there are assets within the portfolio now that investors can get behind. The standout is Vimeo, which surpassed 1M paying subscribers in 2Q, with revenue growing +25% in 1H19.”
According to TipRanks.com, Anthony is a top 100 analyst with an average return of 15.1% and a 64.9% success rate. Anthony covers the Technology sector, focusing on stocks such as ANGI Homeservices Inc, The Meet Group Inc, and Match Group Inc.
Currently, the analyst consensus on IAC/InterActiveCorp is a Strong Buy with an average price target of $298.25.
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IAC/InterActiveCorp’s market cap is currently $21.44B and has a P/E ratio of 45.14. The company has a Price to Book ratio of 7.18.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is neutral on the stock.
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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, Vimeo, Dotdash, Applications and Emerging & Other. The Match Group segment provides dating products, operating a portfolio of several brands, including Match, Tinder, PlentyOfFish, and OkCupid.
