J.P. Morgan Thinks IAC/InterActive’s Stock is Going to Recover

In a report released today, Cory Carpenter from J.P. Morgan maintained a Buy rating on IAC/InterActive (IACResearch Report), with a price target of $165.00. The company’s shares closed last Wednesday at $120.88, close to its 52-week low of $119.20.

According to TipRanks.com, Carpenter ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -10.3% and a 37.1% success rate. Carpenter covers the Technology sector, focusing on stocks such as VIZIO Holding, Match Group, and MediaAlpha.

Currently, the analyst consensus on IAC/InterActive is a Strong Buy with an average price target of $169.38, which is a 29.3% upside from current levels. In a report issued on February 11, BMO Capital also maintained a Buy rating on the stock with a $195.00 price target.

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Based on IAC/InterActive’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $924 million and net profit of $60.69 million. In comparison, last year the company earned revenue of $713 million and had a net profit of $185 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.

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