Barclays Cuts IAC (NASDAQ:IAC) Price Target to $61.00

IAC (NASDAQ:IAC) had its price target trimmed by Barclays from $66.00 to $61.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also commented on IAC. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. TD Cowen dropped their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Truist Financial decreased their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $70.00 price target on shares of IAC in a report on Monday, December 16th. Finally, UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.33.

IAC Stock Performance

NASDAQ IAC opened at $47.97 on Thursday. The company has a market cap of $3.86 billion, a P/E ratio of -111.56 and a beta of 1.32. The company has a fifty day simple moving average of $43.10 and a 200 day simple moving average of $48.21. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC has a 12-month low of $39.61 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last posted its earnings results 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 during 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%. The firm’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 business earned ($0.30) EPS. Sell-side analysts predict that IAC will post -3.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC bought a new stake in shares of IAC during the 4th quarter worth $211,000. Raymond James Financial Inc. purchased a new stake in IAC during the fourth quarter valued at about $8,015,000. Renaissance Technologies LLC lifted its stake in IAC by 82.2% during the fourth quarter. Renaissance Technologies LLC now owns 98,627 shares of the company’s stock worth $4,255,000 after purchasing an additional 44,500 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of IAC by 24.7% in the 4th quarter. Invesco Ltd. now owns 341,507 shares of the company’s stock worth $14,733,000 after purchasing an additional 67,746 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of IAC in the 4th quarter worth about $395,000. 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.