Truist Financial Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target cut by analysts at Truist Financial from $80.00 to $76.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 68.06% from the stock’s current price.

Several other equities research analysts have also issued reports on IAC. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. Benchmark reiterated a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. JMP Securities restated a “market outperform” rating and set a $70.00 price objective on shares of IAC in a research report on Monday, December 16th. Finally, KeyCorp lowered their target price on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and an average target price of $66.92.

IAC Trading Up 4.2 %

Shares of IAC stock opened at $45.22 on Thursday. IAC has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The stock’s fifty day moving average price is $43.10 and its two-hundred day moving average price is $48.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The company has a market cap of $3.64 billion, a PE ratio of -104.90 and a beta of 1.32.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The business 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 business’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.30) EPS. Equities analysts predict that IAC will post -3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On IAC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd lifted its position in shares of IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in IAC during the fourth quarter worth $41,000. Quarry LP lifted its holdings in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after buying an additional 785 shares during the period. GAMMA Investing LLC lifted its holdings in IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after acquiring an additional 1,916 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

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.