Facebook Stock, IAC, Chegg Upgraded

Facebook, IAC, and Chegg stocks are on analysts' bullish radar today

by Karee Venema

Published on May 2, 2017 at 9:57 AM

Analysts are weighing in on social media stock Facebook Inc (NASDAQ:FB), internet issue IAC/InterActiveCorp (NASDAQ:IAC), and education platform Chegg Inc (NYSE:CHGG). Here's a quick roundup of today's bullish brokerage notes on shares of FB, IAC, and CHGG.

Facebook Stock Trades at Record High Ahead of Earnings

FB stock is trading up 0.5% at $153.25 -- a new record high -- after Deutsche Bank boosted its price target to $180 from $155. The brokerage firm also increased its full-year 2017 and 2018 earnings-per-share estimates for Facebook Inc, as the company prepares to report earnings after tomorrow's close. Heading into today's trading, the stock was already boasting a 32.5% year-to-date lead, and FB options traders have been betting on more upside. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), FB's 10-day call/put volume ratio of 2.14 ranks 4 percentage points from a 52-week peak, meaning calls have been bought to open over puts at a near-annual-high clip.

IAC Stock Hits All-Time Peak After Acquiring Angie's List

IAC stock has surged 14% to trade at $96.04 -- in uncharted territory -- after the company said it will purchase Angie's List Inc (NASDAQ:ANGI) to combine it with its HomeAdvisor online-review division. Adding to the bullish bias is a price-target hike to $96 from $82 at Barclays. IAC shares have now roughly doubled in value on a year-over-year basis. Not surprisingly, almost 86% of covering analysts maintain a "strong buy" recommendation on IAC stock, but considering the average 12-month price target of $87.39 stands at a discount to current trading levels -- there's room for additional price-target increases to come down the pike. IAC/InterActiveCorp will likely continue to be in the headlines this week, with earnings due tomorrow night.

Chegg Stock Soars Into Double-Digits On Strong Outlook

Raymond James raised its rating on CHGG stock to "outperform" from "market perform," while both J.P. Morgan Securities and Lake Street Capital Markets increased their respective price targets to $12. These upwardly revised analyst ratings are in response to Chegg Inc's strong first-quarter earnings report and upwardly revised full-year revenue forecast. As such, CHGG stock has surged 21% out of the gate to $11.08, marking its first trek into double-digit territory since the shares inaugural day of trading on Nov. 13, 2013. Nevertheless, the stock had more than doubled in the last 12 months based on last night's close, and short sellers could be sweating. More than 34% of CHGG stock's float is sold short, or 37 times the security's average pace of trading.


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