Citigroup Initiates Coverage On IAC/InterActiveCorp to Buy with Price Target $89

Citigroup Initiates Coverage On IAC/InterActiveCorp(IAC). In a research note issued to the investors, the brokerage major Announces the price-target to $89 per share. The shares have been rated Buy. The rating by the stock financial advisor at Citigroup was issued on Mar 27, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 20, 2017, Guggenheim said it Downgrades its rating on IAC/InterActiveCorp. The shares have been rated ‘Neutral’ by the firm.

IAC/InterActiveCorp (IAC) made into the market gainers list on Fridays trading session with the shares advancing 0.53% or 0.38 points. Due to strong positive momentum, the stock ended at $72.74, which is also near the day’s high of $72.95. The stock began the session at $72.46 and the volume stood at 3,44,626 shares. The 52-week high of the shares is $77.46 and the 52 week low is $45. The company has a current market capitalization of $5,655 M and it has 7,77,36,626 shares in outstanding.

IAC/InterActiveCorp(IAC) last announced its earnings results on Feb 1, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $811.162M. Analysts had an estimated revenue of $781.110M. Earnings per share were $0.93. Analysts had estimated an EPS of $0.94.

IAC/InterActiveCorp (IAC) is a media and Internet company. The Company operates through four segments: Search & Applications, The Match Group, Media and eCommerce. The Search & Applications segment consists of: Websites through, which the Company provides search services, content and other services, and applicationsluding its direct-to-consumer downloadable applications operations (B2C), partnership operations (B2B), SlimWare and Apalon. The Match Group segment consists of its North America dating businesses, International dating businesses and non-dating businesses. The Media segment consists of Vimeo, which offers video creators tools; Electus, a multimedia entertainment studio, and The Daily Beast, a Website dedicated to news, commentary, culture and entertainment. The eCommerce segment consists of HomeAdvisor, an online marketplace for matching consumers with home services professionals, and ShoeBuy, an Internet retailer of footwear and related apparel and accessories.

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