The Goldman Sachs Group Forecasts Strong Price Appreciation for IAC (NASDAQ:IAC) Stock

Key Points

• The Goldman Sachs Group raised its IAC price target from $48 to $56 and kept a buy rating, implying roughly 25.3% upside from the prior close.
• Analyst consensus is a Moderate Buy (10 Buys, 4 Holds, 1 Sell) with a consensus price target of $49.15.
• Despite the bullish outlook, IAC reported quarterly EPS of ($0.99) versus $0.67 expected and revenue fell 34.7% year-over-year, while the stock trades around $44.70.

IAC (NASDAQ:IAC - Get Free Report) had its target price increased by investment analysts at The Goldman Sachs Group from $48.00 to $56.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 25.28% from the company's previous close.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of IAC in a report on Thursday, January 22nd. KeyCorp upped their price objective on shares of IAC from $41.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, April 23rd. Needham & Company LLC set a $57.00 target price on IAC in a research note on Tuesday, March 3rd. Benchmark reaffirmed a "buy" rating on shares of IAC in a research report on Tuesday, March 3rd. Finally, UBS Group reissued a "neutral" rating and issued a $42.00 price target on shares of IAC in a report on Friday, February 6th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $49.15.

IAC Stock Up 0.2%

Shares of NASDAQ:IAC traded up $0.10 during mid-day trading on Tuesday, hitting $44.70. 393,398 shares of the company traded hands, compared to its average volume of 1,062,994. The firm's 50 day simple moving average is $39.48 and its 200 day simple moving average is $37.38. The firm has a market cap of $3.18 billion, a P/E ratio of -33.59 and a beta of 1.06. 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 52-week low of $29.56 and a 52-week high of $45.82.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($1.66). The company had revenue of $645.98 million during the quarter, compared to analysts' expectations of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The firm's revenue was down 34.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.39) EPS. On average, equities analysts anticipate that IAC will post 0.29 EPS for the current year.

Institutional Trading of IAC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of IAC by 38.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company's stock worth $19,087,000 after acquiring an additional 115,652 shares in the last quarter. United Services Automobile Association acquired a new position in IAC in the first quarter worth $207,000. Empowered Funds LLC increased its stake in IAC by 9.8% during the first quarter. Empowered Funds LLC now owns 8,037 shares of the company's stock valued at $369,000 after purchasing an additional 718 shares during the last quarter. Focus Partners Wealth bought a new stake in IAC during the first quarter valued at $270,000. Finally, Creative Planning raised its holdings in shares of IAC by 8.8% during the second quarter. Creative Planning now owns 11,619 shares of the company's stock worth $434,000 after purchasing an additional 944 shares during the period. 88.90% of the stock is 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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