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

IAC (NASDAQ:IAC) had its target price reduced by investment analysts at JMP Securities from $64.00 to $47.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 26.68% from the stock’s previous close.

Several other equities analysts also recently commented on IAC. Truist Financial dropped their price objective on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Piper Sandler dropped their price target on IAC from $54.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price objective on IAC from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Oppenheimer dropped their price objective on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup cut their target price on shares of IAC from $47.55 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.08.

IAC Price Performance

Shares of NASDAQ:IAC opened at $37.10 on Tuesday. The company has a market capitalization of $2.75 billion, a P/E ratio of -5.69 and a beta of 1.23. The company’s 50-day moving average is $35.66 and its 200 day moving average is $41.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. IAC has a fifty-two week low of $32.05 and a fifty-two week high of $55.40.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Barclays PLC grew its position in IAC by 922.5% during the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock worth $3,268,000 after buying an additional 54,797 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of IAC during the 4th quarter valued at about $316,000. Entropy Technologies LP grew its holdings in shares of IAC by 225.1% during the fourth quarter. Entropy Technologies LP now owns 20,447 shares of the company’s stock worth $882,000 after purchasing an additional 14,158 shares in the last quarter. Rhumbline Advisers increased its position in shares of IAC by 1.4% in the fourth quarter. Rhumbline Advisers now owns 181,325 shares of the company’s stock worth $7,822,000 after purchasing an additional 2,563 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of IAC by 1,193.4% in the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock worth $139,000 after purchasing an additional 3,079 shares during the last quarter. 88.90% of the stock is currently 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.