Strength Seen in IAC/InterActiveCorp (IAC): Can Its 3.2% Jump Turn into More Strength?

IAC/InterActiveCorp (IAC) shares ended the last trading session 3.2% higher at $163.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock’s 37.2% loss over the past four weeks.Shares of IAC/InterActiveCorp gained as Wedbush maintained its Outperforming rating and Oppenheimer also reiterated its Buy rating on the stock following the completion of the Vimeo spin-off.Wedbush’s target price of $193 implies an 18% upside. The Oppenheimer analyst has set a target price of $185, which is 13% above the current price.IAC/InterActiveCorp has completed the previously announced spin-off its full stake in Vimeo, a video software company. Vimeo has begun trading as a separate, publicly-traded company on the NASDAQ under the symbol “VMEO”. Notably, Vimeo is the 11th public company to spin out from IAC/InterActiveCorp in the last 25 years of its history. Per the deal, IAC/InterActiveCorp shareholders received 1.6235 shares of the newly-formed VMEO for each share of IAC/InterActiveCorp held.IAC would continue to operate Dotdash, Search, Mosaic Group, Care.com and other businesses, along with majority ownership in ANGI Homeservices, which includes HomeAdvisor and Handy.Shares of IAC/InterActiveCorp gained as Wedbush maintained its Outperforming rating and Oppenheimer also reiterated its…
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