Oppenheimer analyst Jason Helfstein assigned a Buy rating to IAC/InterActive (IAC) today and set a price target of $270.00. The company’s shares closed last Monday at $237.08, close to its 52-week high of $266.00.
According to TipRanks.com, Helfstein is a top 25 analyst with an average return of 39.0% and a 68.9% success rate. Helfstein covers the Technology sector, focusing on stocks such as Opendoor Technologies, Fiverr International, and Zillow Group Class C.
Currently, the analyst consensus on IAC/InterActive is a Strong Buy with an average price target of $275.89, a 15.5% upside from current levels. In a report issued on May 3, Wedbush also maintained a Buy rating on the stock with a $276.00 price target.
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Based on IAC/InterActive’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $849 million and net profit of $509 million. In comparison, last year the company earned revenue of $671 million and had a net profit of $6.89 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.
