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

IAC (NASDAQ:IAC)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a report issued on Monday,Benzinga reports. They presently have a $70.00 target price on the stock. JMP Securities’ price objective indicates a potential upside of 55.97% from the stock’s current price.

Several other analysts have also recently commented on IAC. Macquarie reaffirmed an “outperform” rating and issued a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. KeyCorp lowered their target price on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Piper Sandler downgraded IAC from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. Benchmark reiterated a “buy” rating and set a $110.00 price target on shares of IAC in a report on Tuesday, November 12th. Finally, Truist Financial dropped their price objective on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.

IAC Price Performance

Shares of IAC stock traded up $0.41 during midday trading on Monday, reaching $44.88. 13,808 shares of the company were exchanged, compared to its average volume of 659,684. The company’s 50 day moving average price is $49.88 and its two-hundred day moving average price is $50.04. The company has a market cap of $3.61 billion, a P/E ratio of -104.37 and a beta of 1.31. IAC has a 12 month low of $43.51 and a 12 month high of $58.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75.

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

Institutional Trading of IAC

Large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of IAC by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock worth $153,252,000 after acquiring an additional 66,347 shares in the last quarter. State Street Corp boosted its stake in IAC by 1.2% in the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after purchasing an additional 28,577 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after purchasing an additional 79,951 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after buying an additional 25,909 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of IAC by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after buying an additional 52,271 shares during the last quarter. 88.90% of the stock is owned by 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.