IAC (NASDAQ:IAC) PT Raised to $75.00 at Oppenheimer

IAC (NASDAQ:IAC) had its price target increased by research analysts at Oppenheimer from $65.00 to $75.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 34.80% from the company’s current price.

A number of other research analysts have also recently weighed in on IAC. UBS Group boosted their target price on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Truist Financial lifted their target price on shares of IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. KeyCorp cut their price objective on shares of IAC from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, Barclays raised their price target on IAC from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.69.

IAC Stock Up 1.0 %

Shares of IAC traded up $0.57 during trading hours on Thursday, hitting $55.64. The stock had a trading volume of 413,905 shares, compared to its average volume of 792,661. The firm has a market capitalization of $4.47 billion, a P/E ratio of 22.40 and a beta of 1.34. The firm has a 50 day simple moving average of $51.47 and a 200-day simple moving average of $50.55. IAC has a 1-year low of $41.39 and a 1-year high of $69.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). IAC had a net margin of 6.09% and a negative return on equity of 4.15%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Sell-side analysts predict that IAC will post -2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On IAC

Institutional investors have recently modified their holdings of the stock. Parkside Investments LLC raised its stake in shares of IAC by 13.8% in the fourth quarter. Parkside Investments LLC now owns 176,269 shares of the company’s stock worth $9,233,000 after purchasing an additional 21,400 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in shares of IAC by 66.6% in the third quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock worth $52,124,000 after acquiring an additional 413,440 shares during the period. International Assets Investment Management LLC purchased a new position in shares of IAC during the fourth quarter valued at approximately $2,579,000. Citigroup Inc. lifted its position in IAC by 9.4% during the third quarter. Citigroup Inc. now owns 15,286 shares of the company’s stock valued at $770,000 after purchasing an additional 1,315 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in IAC by 70.9% in the third quarter. Envestnet Asset Management Inc. now owns 160,154 shares of the company’s stock worth $8,070,000 after purchasing an additional 66,427 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

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.