IAC/InterActiveCorp (IAC) Got Some Good News

By Austin Angelo

In a report released yesterday, Stephen Ju from Credit Suisse upgraded IAC/InterActiveCorp (IACResearch Report) to Buy, with a price target of $243. The company’s shares closed on Friday at $215.96, close to its 52-week high of $223.54.

According to TipRanks.com, Ju is a top 100 analyst with an average return of 17.5% and a 67.5% success rate. Ju covers the Technology sector, focusing on stocks such as Activision Blizzard, Boingo Wireless Inc, and Alphabet Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IAC/InterActiveCorp with a $241.83 average price target, representing an 12.0% upside. In a report issued on January 28, Barclays also maintained a Buy rating on the stock with a $242 price target.

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Based on IAC/InterActiveCorp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $192 million. In comparison, last year the company had a net profit of $32.8 million.

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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, Video, Applications, Publishing, and Other. The Match Group segment provides dating products, operating a portfolio of several brands, including Match, Tinder, PlentyOfFish, and OkCupid.