Piper Sandler Lowers IAC (NASDAQ:IAC) Price Target to $44.00

IAC (NASDAQ:IAC) had its price target reduced by research analysts at Piper Sandler from $54.00 to $44.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 19.66% from the company’s current price.

Several other equities analysts have also weighed in on the company. Truist Financial cut their price target on IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Benchmark reduced their target price on shares of IAC from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Cowen restated a “buy” rating on shares of IAC in a research report on Monday. UBS Group cut their price objective on shares of IAC from $54.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Oppenheimer cut their price target on IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

IAC Stock Up 4.1 %

NASDAQ:IAC opened at $36.77 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The company’s fifty day moving average price is $39.48 and its 200-day moving average price is $43.57. IAC has a 1-year low of $32.05 and a 1-year high of $58.29. The firm has a market capitalization of $2.85 billion, a P/E ratio of -5.64 and a beta of 1.24.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $1.14. The company had revenue of $570.49 million for the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. As a group, equities research analysts anticipate that IAC will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its stake in shares of IAC by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock valued at $497,000 after acquiring an additional 320 shares during the period. Bleakley Financial Group LLC lifted its stake in IAC by 1.0% during the first quarter. Bleakley Financial Group LLC now owns 33,097 shares of the company’s stock worth $1,520,000 after purchasing an additional 324 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of IAC by 118.6% during the first quarter. Versant Capital Management Inc now owns 680 shares of the company’s stock worth $31,000 after buying an additional 369 shares during the period. US Bancorp DE grew its stake in shares of IAC by 21.9% in the first quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after buying an additional 401 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of IAC by 282.2% in the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock valued at $27,000 after buying an additional 429 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

About IAC

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.