IAC (NASDAQ:IAC) Price Target Cut to $64.00 by Analysts at JMP Securities

IAC (NASDAQ:IAC) had its price target reduced by JMP Securities from $70.00 to $64.00 in a research note published on Thursday,Benzinga reports. They currently have a market outperform rating on the stock.

Several other analysts have also recently commented on the company. Citigroup boosted their price target on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. KeyCorp reduced their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Macquarie restated an “outperform” rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. Finally, Barclays reduced their price target on IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.33.

IAC Trading Up 10.6 %

IAC stock opened at $47.97 on Thursday. IAC has a 52-week low of $39.61 and a 52-week high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $3.86 billion, a P/E ratio of -111.56 and a beta of 1.32. The company’s 50-day simple moving average is $43.10 and its 200-day simple moving average is $48.21.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The company had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same period in the prior year, the business posted ($0.30) EPS. IAC’s revenue was down 15.5% compared to the same quarter last year. As a group, equities analysts forecast that IAC will post -3.97 EPS for the current fiscal year.

Institutional Trading of IAC

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its position in IAC by 20.4% in the third quarter. SG Americas Securities LLC now owns 8,022 shares of the company’s stock valued at $432,000 after purchasing an additional 1,358 shares during the period. GAMMA Investing LLC grew its stake in shares of IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares in the last quarter. Creative Planning raised its holdings in shares of IAC by 55.7% in the 3rd quarter. Creative Planning now owns 14,380 shares of the company’s stock valued at $774,000 after buying an additional 5,145 shares during the period. Raymond James & Associates raised its holdings in shares of IAC by 7.7% in the 3rd quarter. Raymond James & Associates now owns 48,353 shares of the company’s stock valued at $2,602,000 after buying an additional 3,471 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in IAC during the 3rd quarter worth about $560,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

About IAC

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.