Benchmark Co. analyst Daniel Kurnos maintains $IAC Inc (IAC.US)$ with a buy rating, and maintains the target price at $110.
According to TipRanks data, the analyst has a success rate of 49.6% and a total average return of 2.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $IAC Inc (IAC.US)$'s main analysts recently are as follows:
Following the Q3 report, there is an anticipation of headwinds for Angi in early 2025, but management exudes confidence for the period following that. Additionally, a prospective spin could mitigate the seven-year overhang risk associated with IAC equity.
IAC is contemplating a distribution of its 85% ownership in Angi to its shareholders. Angi is currently in the midst of an operational overhaul, as evidenced by a revenue decrease of over 15% year-over-year in the third quarter.
Q3 outcomes were largely eclipsed by IAC's strategic choice to divest its Angi Inc. holdings, which account for around 28% of IAC's market value. This move is perceived as an effort by IAC to liberate capital to foster additional value generation. Considering the current negligible valuation of IAC's remaining interests excluding Angi and MGM, the decision to spin off is seen as a chance to reveal shareholder value from prospering profitable entities such as Dotdash-Meredith.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
