IAC (NASDAQ:IAC) Given Market Outperform Rating at JMP Securities

IAC (NASDAQ:IAC)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a research report issued on Monday,Benzinga reports. They presently have a $70.00 price target on the stock. JMP Securities’ price target indicates a potential upside of 58.69% from the company’s previous close.

Several other analysts have also issued reports on IAC. Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. Barclays dropped their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. TD Cowen dropped their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Truist Financial reduced their price objective on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and an average target price of $68.33.

IAC Stock Performance

NASDAQ IAC opened at $44.11 on Monday. The company has a market capitalization of $3.55 billion, a PE ratio of -102.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. IAC has a 52-week low of $43.51 and a 52-week high of $58.29. The company has a 50-day simple moving average of $49.59 and a 200 day simple moving average of $49.97.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. 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 previous year, the business earned ($0.30) EPS. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, research analysts predict that IAC will post -3.97 EPS for the current year.

Hedge Funds Weigh In On IAC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAC. International Assets Investment Management LLC purchased a new stake in shares of IAC in the 2nd quarter valued at about $39,000. 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. Quarry LP lifted its position in IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after purchasing an additional 785 shares during the last quarter. CWM LLC grew its stake in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of IAC in the 2nd quarter worth $60,000. 88.90% of the stock is currently 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.