IAC (NASDAQ:IAC) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of IAC (NASDAQ:IAC) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $70.00 target price on the stock.

A number of other brokerages have also recently commented on IAC. Piper Sandler cut shares of IAC from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. UBS Group raised IAC to a “hold” rating in a research note on Monday, October 28th. Truist Financial decreased their price objective on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. KeyCorp cut their price target on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Barclays dropped their price target on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.33.

IAC Price Performance

IAC stock opened at $44.77 on Monday. The company has a market cap of $3.60 billion, a P/E ratio of -104.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The firm has a 50-day moving average of $49.74 and a 200 day moving average of $50.01. IAC has a 1 year low of $43.51 and a 1 year high of $58.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The company had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. IAC’s revenue was down 15.5% compared to the same quarter last year. On average, sell-side analysts forecast that IAC will post -3.97 EPS for the current year.

Institutional Investors Weigh In On IAC

Several hedge funds have recently modified their holdings of the company. Greenwich Wealth Management LLC lifted its stake in shares of IAC by 3.0% in the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock worth $451,000 after buying an additional 284 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after acquiring an additional 405 shares during the last quarter. CWM LLC lifted its stake in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after purchasing an additional 408 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of IAC by 1.6% in the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after purchasing an additional 490 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after buying an additional 492 shares in the last quarter. 88.90% of the stock is 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.