IAC/InterActiveCorp (NASDAQ:IAC) had its target price cut by equities research analysts at Piper Sandler from $278.00 to $180.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 18.91% from the company’s current price.
Several other research firms also recently weighed in on IAC. Zacks Investment Research downgraded IAC/InterActiveCorp from a “hold” rating to a “sell” rating in a research note on Friday, May 7th. Barclays increased their price objective on IAC/InterActiveCorp from $270.00 to $290.00 in a report on Monday, May 10th. BTIG Research cut IAC/InterActiveCorp from a “buy” rating to a “neutral” rating in a report on Thursday, May 27th. They noted that the move was a valuation call. KeyCorp increased their price objective on IAC/InterActiveCorp from $276.00 to $277.00 and gave the stock an “overweight” rating in a report on Monday, May 10th. Finally, Wedbush dropped their price objective on IAC/InterActiveCorp from $276.00 to $193.00 and set an “outperform” rating on the stock in a report on Wednesday, May 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company. IAC/InterActiveCorp currently has an average rating of “Buy” and an average price target of $221.87.
Shares of NASDAQ:IAC opened at $151.37 on Friday. The company has a market cap of $12.62 billion and a P/E ratio of 15.20. The company has a fifty day simple moving average of $219.04. IAC/InterActiveCorp has a 1 year low of $66.81 and a 1 year high of $179.12.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverbridge Partners LLC raised its holdings in shares of IAC/InterActiveCorp by 1.9% during the 1st quarter. Riverbridge Partners LLC now owns 578,716 shares of the company’s stock valued at $125,182,000 after buying an additional 10,751 shares in the last quarter. Sei Investments Co. grew its position in IAC/InterActiveCorp by 188.8% during the 4th quarter. Sei Investments Co. now owns 41,862 shares of the company’s stock worth $7,927,000 after acquiring an additional 27,366 shares during the last quarter. CI Investments Inc. bought a new position in IAC/InterActiveCorp during the 4th quarter worth approximately $1,022,000. TCW Group Inc. grew its position in IAC/InterActiveCorp by 523.3% during the 1st quarter. TCW Group Inc. now owns 106,617 shares of the company’s stock worth $23,062,000 after acquiring an additional 89,513 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its position in IAC/InterActiveCorp by 6.1% during the 1st quarter. IFM Investors Pty Ltd now owns 8,355 shares of the company’s stock worth $1,807,000 after acquiring an additional 484 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.
IAC/InterActiveCorp operates as a media and internet company worldwide. The company offers digital marketplace service which connects consumers with service professionals for repairing, remodeling, cleaning, and landscaping solutions under the HomeAdvisor, Angie's List, and Handy brands; Vimeo, a cloud-based software platform for professionals, teams, and organizations to create, collaborate, and communicate with video; and Dotdash, a portfolio of digital publishing brands that provides information and inspiration in select vertical content categories, as well as provides original and engaging digital content in a various formats, including articles, illustrations, videos, and images.
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