IAC Inc. (NASDAQ:IAC) Receives $47.92 Average Target Price from Brokerages

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 received an average rating of "Moderate Buy" from the fourteen research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $47.9231.

IAC has been the topic of a number of research reports. Piper Sandler dropped their target price on shares of IAC from $44.00 to $39.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Wall Street Zen raised shares of IAC from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. JMP Securities cut their price objective on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a report on Tuesday, June 10th. KeyCorp lowered their price target on IAC from $49.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. Finally, Truist Financial cut their price target on IAC from $61.00 to $57.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th.

Hedge Funds Weigh In On IAC

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

IAC Price Performance

Shares of IAC stock traded down $0.68 during trading hours on Tuesday, reaching $36.07. The stock had a trading volume of 1,042,567 shares, compared to its average volume of 1,156,462. The stock's fifty day simple moving average is $37.60 and its 200 day simple moving average is $38.31. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. IAC has a 12 month low of $32.04 and a 12 month high of $55.40. The firm has a market capitalization of $2.68 billion, a PE ratio of -6.69 and a beta of 1.26.

IAC (NASDAQ:IAC - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $2.87. The business had revenue of $586.93 million during the quarter, compared to analyst estimates of $601.38 million. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. IAC's revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.71) earnings per share. On average, equities research analysts predict that IAC will post 0.43 EPS for the current year.

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.