IAC Inc. (NASDAQ:IAC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• IAC Inc. has received an average analyst recommendation of "Moderate Buy" from fourteen brokerages, with two holding and twelve recommending to buy the stock.
• The average 1-year price target set by analysts is $47.92, although recent ratings have reported variable price updates, including a decrease from $44.00 to $39.00 by Piper Sandler.
• IAC reported earnings per share of $2.57 for the last quarter, significantly exceeding analysts' expectations of a loss, despite a revenue drop of 7.5% compared to the previous year.

Shares of IAC Inc. (NASDAQ:IAC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $47.9231.

A number of research analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of IAC from $44.00 to $39.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Benchmark decreased their price objective on shares of IAC from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. UBS Group upped their price target on shares of IAC from $38.00 to $41.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. JMP Securities reduced their price target on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a research report on Tuesday, June 10th. Finally, Truist Financial reduced their price target on shares of IAC from $61.00 to $57.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th.

IAC Trading Down 1.9%

Shares of IAC stock opened at $36.49 on Tuesday. The firm has a 50-day simple moving average of $37.84 and a two-hundred day simple moving average of $38.53. The company has a market cap of $2.71 billion, a P/E ratio of -6.77 and a beta of 1.26. IAC has a fifty-two week low of $32.04 and a fifty-two week high of $55.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $2.87. The business had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The company's revenue was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.71) earnings per share. As a group, equities analysts predict that IAC will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AlphaQuest LLC raised its position in shares of IAC by 64.8% during the 1st quarter. AlphaQuest LLC now owns 3,187 shares of the company's stock worth $146,000 after purchasing an additional 1,253 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of IAC during the 1st quarter worth about $1,107,000. Allspring Global Investments Holdings LLC acquired a new position in shares of IAC during the 1st quarter worth about $2,590,000. Charles Schwab Investment Management Inc. grew its stake in IAC by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,015,204 shares of the company's stock valued at $46,638,000 after acquiring an additional 47,944 shares in the last quarter. Finally, Maverick Capital Ltd. raised its holdings in IAC by 112.7% in the 1st quarter. Maverick Capital Ltd. now owns 18,874 shares of the company's stock valued at $867,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

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.

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