Skip to main content

Market Overview

Some Items To Remember Ahead Of InteractiveCorp's Q3 Earnings

Share:
Some Items To Remember Ahead Of InteractiveCorp's Q3 Earnings

Robert "Bob" S. Peck of SunTrust Robinson Humphrey believes that for the Q3 earnings report from IAC/InterActiveCorp (NASDAQ: IAC), it is important to remember the company’s publishing and apps businesses took on a restructuring charge in the previous quarter.

Peck maintains a Buy rating on the company while raising the price target from $70 to $73.

Items To Remember

The analyst mentioned that following the restructuring charge, management’s focus has been on cost cutting to maximize cash flow from these two businesses in order to invest into growing divisions like Vimeo and HomeAdvisor.

Peck also believes that one should remember that “IAC CEO Joey Levin has been the interim CEO of Vimeo as well since the departure of Kerry Trainor in June,” while “IAC sold ASKfm in July from the Publishing division, which will be a headwind to the division's q/q revenue growth.”

Related Link: IAC Has More Room To Move Higher

Following the repurchase of 6 percent of its outstanding shares in early May, InterActiveCorp still has buyback authorization remaining.

Vimeo introduced Vimeo Business in September, which is a new membership tier that offers advanced analytics, marketing capabilities, video management tools, help for brands to connect with filmmakers and other features.

Vimeo also announced a deal with Lions Gate Entertainment Corp. (USA) (NYSE: LGF) to bring the 80 series to Vimeo Global service.

Q3 Expectations

Peck also expects InterActiveCorp to continue to generation more than 30 percent revenue growth for HomeAdvisor.

In addition, the analyst stated that Match Group Inc (NASDAQ: MTCH) “continues strong growth led by Tinder and the turnaround with the legacy and affinity brands in North America.”

At last check, IAC was up 1.42 percent at $62.43.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for IAC

DateFirmActionFromTo
Apr 2021Credit SuisseMaintainsOutperform
Mar 2021KeyBancMaintainsOverweight
Feb 2021CitigroupMaintainsBuy

View More Analyst Ratings for IAC
View the Latest Analyst Ratings

 

Related Articles (LGF + IAC)

View Comments and Join the Discussion!

Posted-In: Analyst Color Earnings Long Ideas News Price Target Previews Buybacks Analyst Ratings Best of Benzinga

Latest Ratings

StockFirmActionPT
FIBKStephens & Co.Downgrades
LEAFCanaccord GenuityDowngrades8.5
AGMSidoti & Co.Downgrades115.0
KEXGabelli & Co.Downgrades
OCGNCantor FitzgeraldDowngrades11.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com