IAC (NASDAQ:IAC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded IAC from “hold” to “sell,” even as other analysts remain mostly constructive on the stock.
• Recent analyst activity includes higher price targets from firms like TD Cowen, UBS, KeyCorp and Barclays, with MarketBeat showing a consensus rating of Moderate Buy and an average target of $53.14.
• IAC’s latest earnings showed a loss of $0.99 per share, missing estimates, though revenue of $645.98 million slightly topped forecasts; the stock recently traded near its 12-month high at $44.06.

IAC (NASDAQ:IAC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued research reports about the stock. TD Cowen raised their price objective on shares of IAC from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Monday. UBS Group raised their price objective on shares of IAC from $42.00 to $49.00 and gave the stock a "neutral" rating in a report on Wednesday. Needham & Company LLC set a $57.00 price objective on shares of IAC in a report on Tuesday, March 3rd. KeyCorp raised their price objective on shares of IAC from $41.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Finally, Barclays lifted their target price on shares of IAC from $48.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.14.

IAC Stock Performance

Shares of IAC opened at $44.06 on Friday. The company has a current ratio of 3.69, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 119.08 and a beta of 1.03. The stock has a 50 day moving average of $40.37 and a 200 day moving average of $37.82. IAC has a 12 month low of $29.56 and a 12 month high of $45.82.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($1.66). IAC had a return on equity of 2.29% and a net margin of 1.82%.The company had revenue of $645.98 million for the quarter, compared to analysts' expectations of $641.01 million. During the same quarter last year, the business posted ($2.39) EPS. The business's quarterly revenue was down 34.7% on a year-over-year basis. As a group, sell-side analysts forecast that IAC will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On IAC

A number of large investors have recently modified their holdings of IAC. Goldman Sachs Group Inc. boosted its position in shares of IAC by 38.6% in the first quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company's stock valued at $19,087,000 after acquiring an additional 115,652 shares during the period. United Services Automobile Association bought a new position in shares of IAC in the first quarter valued at approximately $207,000. Empowered Funds LLC boosted its position in shares of IAC by 9.8% in the first quarter. Empowered Funds LLC now owns 8,037 shares of the company's stock valued at $369,000 after acquiring an additional 718 shares during the period. Focus Partners Wealth bought a new stake in IAC during the first quarter valued at approximately $270,000. Finally, Creative Planning lifted its position in IAC by 8.8% during the second quarter. Creative Planning now owns 11,619 shares of the company's stock valued at $434,000 after purchasing an additional 944 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors.

About IAC

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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