Benchmark Co. Believes IAC/InterActiveCorp (NASDAQ: IAC) Still Has Room to Grow

By Ryan Adsit

Benchmark Co. analyst Daniel Kurnos maintained a Buy rating on IAC/InterActiveCorp (IACResearch Report) today and set a price target of $280. The company’s shares closed yesterday at $231.41, close to its 52-week high of $242.86.

Kurnos commented:

“We get that the messaging for ANGI both heading into 4Q and now in 1Q played a role in investor frustration, along with the run-up into the print, but feel confident enough in management’s track record, along with what we see as a reasonable growth path, to suggest that yesterday’s sell-off looks like an attractive entry point for both stocks. We also acknowledge that negative core equity valuation will likely remain in place until we get full spins of the larger stubs but find it increasingly hard to believe people will keep being able to ignore the consistent upside recorded throughout the core portfolio. the close, Match reminded investors that the dating TAM is still large, with a significant beat on Tinder subs against expectations that momentum was getting strained.”

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 13.4% and a 56.6% success rate. Kurnos covers the Services sector, focusing on stocks such as Nexstar Media Group Inc, Booking Holdings Inc, and Sinclair Broadcast.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IAC/InterActiveCorp with a $271.90 average price target, implying a 17.5% upside from current levels. In a report issued on April 30, J.P. Morgan also maintained a Buy rating on the stock with a $265 price target.

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Based on IAC/InterActiveCorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $88.7 million. In comparison, last year the company had a net profit of $71.08 million.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2019, Michael Schwerdtman, the SVP & Controller of IAC sold 22,500 shares for a total of $4,966,213.

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, 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.