IAC (NASDAQ:IAC) Price Target Cut to $76.00 by Analysts at Truist Financial

IAC (NASDAQ:IAC) had its target price cut by equities researchers at Truist Financial from $80.00 to $76.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 68.06% from the company’s previous close.

A number of other research firms have also recently issued reports on IAC. JMP Securities reaffirmed a “market outperform” rating and issued a $70.00 price objective on shares of IAC in a research report on Monday, December 16th. Macquarie reaffirmed an “outperform” rating and set a $14.00 price target on shares of IAC in a report on Thursday, November 14th. TD Cowen reduced their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Barclays dropped their price objective on shares of IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, UBS Group raised shares of IAC to a “hold” rating in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.92.

IAC Stock Performance

NASDAQ IAC opened at $45.22 on Thursday. The firm has a market capitalization of $3.64 billion, a P/E ratio of -104.90 and a beta of 1.32. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average price is $43.10 and its two-hundred day moving average price is $48.21. IAC has a 1 year low of $39.61 and a 1 year high of $58.29.

IAC (NASDAQ:IAC) last issued its 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 firm had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. During the same period in the previous year, the company posted ($0.30) earnings per share. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, research analysts anticipate that IAC will post -3.97 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its stake in IAC by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock worth $497,000 after acquiring an additional 320 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of IAC by 2.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after purchasing an additional 405 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 457 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of IAC by 1.6% in the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after purchasing an additional 490 shares during the period. Finally, GAMMA Investing LLC raised its stake in 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 purchasing an additional 492 shares in the last quarter. 88.90% of the stock is owned by 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.