IAC (NASDAQ:IAC) Price Target Raised to $41.00 at UBS Group

Key Points

• UBS Group has increased its price target for IAC from $38.00 to $41.00, indicating a potential upside of 18.71% from the current stock price.
• Despite the target increase, IAC has seen downgrades from other analysts, with Truist Financial reducing their price target from $61.00 to $57.00 and Goldman Sachs lowering theirs from $60.00 to $46.00.
• IAC reported earnings of $2.57 per share, significantly exceeding expectations, though revenue was down 7.5% year-over-year.

IAC (NASDAQ:IAC - Free Report) had its price target boosted by UBS Group from $38.00 to $41.00 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on IAC. Piper Sandler decreased their target price on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Oppenheimer decreased their target price on IAC from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. JMP Securities decreased their target price on IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a research report on Tuesday, June 10th. Finally, KeyCorp decreased their target price on IAC from $49.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.92.

IAC Price Performance

IAC stock traded down $0.82 during mid-day trading on Wednesday, hitting $34.17. 1,591,347 shares of the company were exchanged, compared to its average volume of 1,340,562. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87. The business's 50 day simple moving average is $38.20 and its two-hundred day simple moving average is $39.71. IAC has a 12-month low of $32.04 and a 12-month high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data 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 8.23% and a negative net margin of 14.52%. The business had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. During the same quarter in the previous year, the business earned ($1.71) earnings per share. The business's revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities research analysts anticipate that IAC will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning raised its stake 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 buying an additional 944 shares in the last quarter. SG Americas Securities LLC raised its stake in IAC by 18.2% during the second quarter. SG Americas Securities LLC now owns 22,966 shares of the company's stock valued at $858,000 after buying an additional 3,537 shares in the last quarter. Helikon Investments Ltd acquired a new stake in IAC during the second quarter valued at approximately $76,056,000. Vise Technologies Inc. acquired a new stake in IAC during the second quarter valued at approximately $378,000. Finally, North Capital Inc. acquired a new stake in IAC during the second quarter valued at approximately $75,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

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.