IAC (NASDAQ:IAC) Given New $47.00 Price Target at JMP Securities

IAC (NASDAQ:IAC - Get Free Report) had its target price dropped by JMP Securities from $64.00 to $47.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' target price indicates a potential upside of 31.47% from the stock's current price.

Other research analysts have also issued reports about the company. Oppenheimer reduced their price target on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Truist Financial reduced their target price on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group decreased their price target on shares of IAC from $60.00 to $46.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Benchmark cut their price objective on shares of IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Cowen reiterated a "buy" rating on shares of IAC in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, IAC has an average rating of "Moderate Buy" and a consensus price target of $54.08.

IAC Trading Down 2.2%

Shares of NASDAQ:IAC traded down $0.80 during trading on Tuesday, reaching $35.75. 811,827 shares of the company were exchanged, compared to its average volume of 816,303. The business's fifty day simple moving average is $35.76 and its 200-day simple moving average is $41.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. IAC has a 12-month low of $32.05 and a 12-month high of $55.40. The firm has a market capitalization of $2.65 billion, a PE ratio of -5.48 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.94) by $1.14. The company had revenue of $570.49 million for the quarter, compared to analysts' expectations of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The firm's quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, research analysts anticipate that IAC will post 0.43 EPS for the current year.

Hedge Funds Weigh In On IAC

Several institutional investors have recently made changes to their positions in IAC. TD Private Client Wealth LLC raised its position in IAC by 282.2% during the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock worth $27,000 after acquiring an additional 429 shares during the period. Aster Capital Management DIFC Ltd lifted its stake in IAC by 287.4% in 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. Parallel Advisors LLC lifted its stake in IAC by 1,422.0% in the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after purchasing an additional 583 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of IAC by 426.1% during the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after purchasing an additional 507 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after purchasing an additional 369 shares in the last quarter. 88.90% of the stock is 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.