IAC/InterActiveCorp (IAC) Receives a Buy from Benchmark Co.

By Ryan Adsit

Benchmark Co. analyst Daniel Kurnos maintained a Buy rating on IAC/InterActiveCorp (NASDAQ: IAC) today and set a price target of $260. The company’s shares closed yesterday at $191.66.

Kurnos observed:

“Wellness category. We believe Dotdash has differentiated themselves from the competition in 3 key ways: 1) With financial backing from the rest of search and the parent company, Dotdash has been able to focus on developing an “evergreen” portfolio of content which receives more consistent updates than the peer group, remaining relevant and driving higher ad rates despite fewer ads per page, while also seeing organic search ranking improvements; 2) Company’s history at About and given all the prior brand work, Dotdash spends very little on paid channel marketing, allowing for a superior margin profile; 3) Dotdash/IAC’s willingness to spend money as others contracted allowed for the creation of a superior tech platform that enjoys a significant speed advantage on mobile, increasing user engagement.”

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 11.8% and a 56.5% success rate. Kurnos covers the Services sector, focusing on stocks such as Booking Holdings Inc, Sinclair Broadcast, and 1-800 Flowers.com.

IAC/InterActiveCorp has an analyst consensus of Strong Buy, with a price target consensus of $237.60, representing a 24.0% upside. In a report issued on September 26, UBS also reiterated a Buy rating on the stock with a $265 price target.

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IAC/InterActiveCorp’s market cap is currently $16.03B and has a P/E ratio of 36.93. The company has a Price to Book ratio of 6.22.

Based on the recent corporate insider activity of 56 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.