The Goldman Sachs Group Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target decreased by investment analysts at The Goldman Sachs Group from $60.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 25.10% from the company’s current price.

A number of other brokerages have also recently issued reports on IAC. Piper Sandler lowered their price objective on IAC from $54.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday. Cowen restated a “buy” rating on shares of IAC in a research note on Monday. Benchmark cut their price objective on shares of IAC from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Barclays dropped their target price on IAC from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, UBS Group reduced their price target on IAC from $54.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

IAC Stock Up 4.1 %

IAC opened at $36.77 on Wednesday. IAC has a twelve month low of $32.05 and a twelve month high of $58.29. The company’s 50-day moving average price is $39.48 and its two-hundred day moving average price is $43.57. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -5.64 and a beta of 1.24. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, May 5th. The company reported ($2.80) EPS for the quarter, beating the consensus estimate of ($3.94) by $1.14. The business 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%. IAC’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. As a group, equities analysts expect that IAC will post 0.43 earnings per share for the current year.

Institutional Trading of IAC

A number of hedge funds have recently made changes to their positions in IAC. Blueshift Asset Management LLC bought a new position in IAC in the first quarter valued at $725,000. US Bancorp DE increased its position in shares of IAC by 21.9% during the 1st quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after purchasing an additional 401 shares during the last quarter. Shufro Rose & Co. LLC raised its holdings in shares of IAC by 14.3% during the 1st quarter. Shufro Rose & Co. LLC now owns 33,650 shares of the company’s stock valued at $1,546,000 after buying an additional 4,200 shares in the last quarter. Hurley Capital LLC bought a new stake in IAC in the 1st quarter worth approximately $168,000. Finally, Mackenzie Financial Corp boosted its stake in IAC by 40.9% in the first quarter. Mackenzie Financial Corp now owns 11,580 shares of the company’s stock worth $532,000 after buying an additional 3,360 shares in 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.