The operator of such websites as Match.com, OkCupid.com and Ask.com was reduced to a sell rating from neutral by Goldman Sachs, sending shares down sharply. IAC/Interactive (IACI) had risen 13% after hitting an 11-month low on Nov. 15. The company, which has an IBD Composite Rating of 78, an EPS Rating of 94 and a Relative Strength Rating of 38, beat Q3 forecasts on Oct. 24, but gave a weak outlook. Goldman, which also reset its target for IAC to 42 from 53, said a recent spike by Ask.com in keyword buying activity might pressure the company's margins. Shares fell 7.8% to 43.50.
- Investment & Company Information
- Goldman Sachs