IAC/InterActiveCorp (IAC) Stock Trending Up After Price Target Increase at Aegis

IAC/InterActiveCorp (NYSE: IAC) shares rose on Wednesday February 8 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.

Meanwhile U.S. stocks traded modestly lower on Wednesday, as losses in energy shares following a drop in oil prices and a slide in financials weighed on the main indexes.

The S&P 500 index SPX, -0.17% declined 6 points, or 0.3%, to 2,286, with six of the main sectors trading lower. Energy and financials were leading the losses, down more than 1%.

The Dow Jones Industrial Average DJIA, -0.26% was down 65 points, or 0.3%, to 20,021, a day after the blue-chip index set an intraday high at 10,155.35. The Nasdaq Composite COMP, -0.13% retreated from an all-time high set on Tuesday, falling 23 points, or 0.4%, to 5,650.

IAC/InterActiveCorp (NYSE: IAC) had its price target boosted by equities researchers at Aegis from $80.00 to $86.00. With a rating of Buy on the stock, IAC/InterActiveCorp has a 52-week high of $76.45. The one-year price target of $82.94 is higher than the opening price of $76.45, causing a number of other analysts to issue statements on the stock recently.

Yesterday IAC/InterActiveCorp (NYSE: IAC) shares last traded at $76.30, which is an increase of $0.02 compared to the previous closing price. Opening at $76.45, they fluctuated from $75.78 and $76.45 throughout the day.

IAC/InterActiveCorp (NYSE: IAC) currently has a market cap of 5.93B.

IAC/InterActiveCorp (NYSE: IAC) Average Daily Trading Volume

40,774 shares crossed the trading desk yesterday, 61 percent lower than normal, out of a total float 66,708,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors retain teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you’re considering.

IAC/InterActiveCorp (NYSE: IAC) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

Trades for IAC/InterActiveCorp (NYSE: IAC) have ranged from $39.02 – 76.45, and the stock now has a 50-day MA of $69.33 and 200-day MA of $64.19. Today’s last price is 0.20%% below the 52 week high of $76.45.

Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more over a 3 year period.

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