TD Cowen Has Lowered Expectations for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price objective lowered by investment analysts at TD Cowen from $82.00 to $77.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 63.90% from the stock’s current price.

A number of other equities research analysts also recently weighed in on IAC. Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday. UBS Group upgraded shares of IAC to a “hold” rating in a research note on Monday, October 28th. Truist Financial increased their price target on shares of IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. KeyCorp reduced their price objective on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Finally, Barclays lowered their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average target price of $70.91.

IAC Trading Down 0.1 %

Shares of IAC stock opened at $46.98 on Wednesday. The business has a fifty day simple moving average of $52.13 and a 200-day simple moving average of $50.91. IAC has a 12 month low of $43.51 and a 12 month high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Monday, November 11th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. The company’s revenue was down 15.5% on a year-over-year basis. Equities analysts predict that IAC will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in IAC during the second quarter worth $39,000. GAMMA Investing LLC lifted its holdings in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after purchasing an additional 492 shares during the last quarter. CWM LLC boosted its position in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after buying an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of IAC during the second quarter worth approximately $60,000. Finally, Innealta Capital LLC bought a new position in shares of IAC in the second quarter valued at approximately $146,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Company Profile

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.