TD Cowen Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price objective cut by TD Cowen from $82.00 to $77.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on IAC. Citigroup reduced their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. KeyCorp decreased their price target on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Benchmark reiterated a “buy” rating and set a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. Barclays cut their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Truist Financial lifted their target price on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, IAC has an average rating of “Moderate Buy” and an average target price of $70.91.

IAC Trading Down 0.1 %

Shares of IAC stock opened at $46.95 on Wednesday. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC has a 1-year low of $43.51 and a 1-year high of $58.29. The business’s fifty day moving average price is $51.97 and its two-hundred day moving average price is $50.89.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The company had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. As a group, equities research analysts anticipate that IAC will post -3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of institutional investors have recently bought and sold shares of IAC. Edgestream Partners L.P. purchased a new stake in IAC during the first quarter valued at about $575,000. Louisiana State Employees Retirement System acquired a new position in IAC in the 2nd quarter worth approximately $1,649,000. Highbridge Capital Management LLC grew its position in IAC by 70.4% during the 2nd quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock worth $7,746,000 after purchasing an additional 68,291 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in IAC by 5.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after purchasing an additional 79,951 shares during the period. Finally, Swedbank AB purchased a new stake in shares of IAC in the first quarter valued at $11,460,000. 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.