Needham & Company Maintains a 'Hold' on IAC/InterActiveCorp (IACI); Raising Estimates on Expected Strong Q2
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Price: $50.68 -2.86%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on IAC/InterActiveCorp (NASDAQ: IACI).
Analyst, Kerry Rice, said, "IAC exceeded 2Q12 expectations with upside driven primarily by Search and Online Personals. We expect Search, particularly the Applications segment, to provide the engine of growth for 2H12. We are encouraged by the progress made improving Meetic’s operating leverage and are less concerned about the ability to turn the business around. While we are incrementally more positive on IAC’s core operations, increased marketing expense and costs associated with the consolidation of Newsweek Daily Beast moderate OIBA expansion."
FY12 EPS estimate raised from $2.64 to $2.76 and FY13 from $3.39 to $3.56.
For an analyst ratings summary and ratings history on IAC/InterActiveCorp click here. For more ratings news on IAC/InterActiveCorp click here.
Shares of IAC/InterActiveCorp closed at $51.18 yesterday.
Analyst, Kerry Rice, said, "IAC exceeded 2Q12 expectations with upside driven primarily by Search and Online Personals. We expect Search, particularly the Applications segment, to provide the engine of growth for 2H12. We are encouraged by the progress made improving Meetic’s operating leverage and are less concerned about the ability to turn the business around. While we are incrementally more positive on IAC’s core operations, increased marketing expense and costs associated with the consolidation of Newsweek Daily Beast moderate OIBA expansion."
FY12 EPS estimate raised from $2.64 to $2.76 and FY13 from $3.39 to $3.56.
For an analyst ratings summary and ratings history on IAC/InterActiveCorp click here. For more ratings news on IAC/InterActiveCorp click here.
Shares of IAC/InterActiveCorp closed at $51.18 yesterday.
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