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Some Items To Remember Ahead Of InteractiveCorp's Q3 Earnings

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.

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Latest Ratings for IAC

Apr 2021Credit SuisseMaintainsOutperform
Mar 2021KeyBancMaintainsOverweight
Feb 2021CitigroupMaintainsBuy

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