IAC (NASDAQ:IAC) Given "Neutral" Rating at Piper Sandler

Key Points

• Piper Sandler restated a neutral rating on IAC and raised its price target to $48 from $39, implying roughly a 13.9% upside from the stock's current level.
• Analyst sentiment is broadly positive—nine Buys, five Holds and one Sell—with a consensus target of $52.57 and several firms (Goldman Sachs, Benchmark, TD Cowen) recently lifting targets up to $66.
• IAC shares traded at $42.14 (market cap ≈ $3.0B) after reporting a Q with an EPS miss of ($0.99) vs. $0.67 expected and revenue down 34.7% year‑over‑year, leaving valuation relatively high (P/E ~113.9).

IAC (NASDAQ:IAC - Get Free Report)'s stock had its "neutral" rating restated by Piper Sandler in a report released on Wednesday,Benzinga reports. They presently have a $48.00 price objective on the stock, up from their prior price objective of $39.00. Piper Sandler's target price suggests a potential upside of 13.91% from the stock's current price.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group boosted their target price on IAC from $48.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their target price on IAC from $46.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday. Jefferies Financial Group lowered IAC from a "buy" rating to a "hold" rating and set a $44.00 target price for the company. in a report on Wednesday. Benchmark boosted their target price on IAC from $57.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, TD Cowen boosted their target price on IAC from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, IAC presently has an average rating of "Moderate Buy" and a consensus target price of $52.57.

IAC Stock Up 1.9%

Shares of IAC stock traded up $0.78 during trading on Wednesday, hitting $42.14. 842,125 shares of the stock traded hands, compared to its average volume of 1,119,300. The stock has a market cap of $3.00 billion, a P/E ratio of 113.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. IAC has a twelve month low of $29.56 and a twelve month high of $45.82. The company has a fifty day moving average price of $40.09 and a two-hundred day moving average price of $37.68.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.66). IAC had a net margin of 1.82% and a return on equity of 2.26%. The firm had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million. During the same quarter in the prior year, the firm earned ($2.39) earnings per share. The firm's quarterly revenue was down 34.7% compared to the same quarter last year. Equities research analysts predict that IAC will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Aristeia Capital L.L.C. lifted its holdings in shares of IAC by 100.7% during the fourth quarter. Aristeia Capital L.L.C. now owns 5,702,459 shares of the company's stock worth $222,966,000 after buying an additional 2,861,871 shares during the last quarter. Corvex Management LP lifted its holdings in shares of IAC by 20.3% during the fourth quarter. Corvex Management LP now owns 3,355,075 shares of the company's stock worth $131,183,000 after buying an additional 566,696 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of IAC by 42,721.4% during the fourth quarter. Bank of Montreal Can now owns 3,128,104 shares of the company's stock worth $122,309,000 after buying an additional 3,120,799 shares during the last quarter. Davis Selected Advisers lifted its holdings in shares of IAC by 12.1% during the fourth quarter. Davis Selected Advisers now owns 2,514,072 shares of the company's stock worth $98,301,000 after buying an additional 270,383 shares during the last quarter. Finally, Patient Capital Management LLC lifted its holdings in shares of IAC by 12.6% during the fourth quarter. Patient Capital Management LLC now owns 2,374,050 shares of the company's stock worth $92,825,000 after buying an additional 265,805 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Company Profile

IAC NASDAQ: IAC is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company's operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC's Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.

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