KeyCorp Has Lowered Expectations for IAC (NASDAQ:IAC) Stock Price

Key Points

• KeyCorp has lowered its target price for IAC's stock from $49.00 to $45.00, while maintaining an "overweight" rating which indicates a potential upside of approximately 32.17% from the stock's previous close.
• Other analysts have also adjusted their price targets, with Piper Sandler reducing theirs to $44.00 and Truist Financial to $57.00, reflecting a general trend of caution towards IAC's stock.
• IAC recently reported an earnings beat with an EPS of $2.57, significantly exceeding analysts' expectations, yet its revenue fell 7.5% year-over-year, indicating ongoing challenges.

IAC (NASDAQ:IAC - Get Free Report) had its target price cut by investment analysts at KeyCorp from $49.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price objective suggests a potential upside of 32.17% from the stock's previous close.

Several other analysts have also commented on the stock. Piper Sandler reduced their price target on shares of IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Cowen reaffirmed a "buy" rating on shares of IAC in a research report on Monday, May 5th. Truist Financial reduced their price target on shares of IAC from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Wednesday. Citigroup cut their target price on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, JMP Securities cut their target price on IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $51.15.

IAC Stock Performance

NASDAQ IAC opened at $34.05 on Wednesday. The stock has a 50-day simple moving average of $38.30 and a two-hundred day simple moving average of $39.86. The firm has a market capitalization of $2.52 billion, a P/E ratio of -6.33 and a beta of 1.23. 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 0.30, a quick ratio of 2.70 and a current ratio of 2.70.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $2.57 EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $2.87. IAC had a negative return on equity of 7.92% and a negative net margin of 14.52%. The firm had revenue of $586.93 million for the quarter, compared to analysts' expectations of $601.38 million. During the same period last year, the firm earned ($1.71) EPS. The company's quarterly revenue was down 7.5% on a year-over-year basis. On average, equities analysts forecast that IAC will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in shares of IAC by 11.4% in the 1st quarter. JPMorgan Chase & Co. now owns 5,451,614 shares of the company's stock worth $250,447,000 after purchasing an additional 557,134 shares in the last quarter. Southeastern Asset Management Inc. TN raised its holdings in shares of IAC by 21.3% during the fourth quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock valued at $118,719,000 after acquiring an additional 483,613 shares during the period. Davis Selected Advisers raised its holdings in shares of IAC by 0.8% during the first quarter. Davis Selected Advisers now owns 2,657,782 shares of the company's stock valued at $122,099,000 after acquiring an additional 22,158 shares during the period. Corvex Management LP raised its holdings in shares of IAC by 61.8% during the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after acquiring an additional 920,875 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its holdings in shares of IAC by 5.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company's stock valued at $72,029,000 after acquiring an additional 84,121 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

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.

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