Benchmark Lowers IAC (NASDAQ:IAC) Price Target to $100.00

IAC (NASDAQ:IAC) had its price target decreased by analysts at Benchmark from $105.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price would indicate a potential upside of 114.96% from the stock’s current price.

A number of other analysts also recently issued reports on the company. KeyCorp reduced their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Citigroup increased their target price on shares of IAC from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and cut their price target for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Oppenheimer reduced their price objective on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, UBS Group cut their target price on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

IAC Price Performance

NASDAQ IAC traded up $3.13 during trading hours on Thursday, reaching $46.52. The company’s stock had a trading volume of 684,037 shares, compared to its average volume of 741,748. IAC has a 1 year low of $39.61 and a 1 year high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -108.18 and a beta of 1.32. The firm’s 50-day moving average price is $43.10 and its 200-day moving average price is $48.21.

IAC (NASDAQ:IAC) last issued 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 for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. IAC’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) EPS. On average, equities research analysts predict that IAC will post -3.97 EPS for the current fiscal year.

Institutional Trading of IAC

A number of hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd raised its holdings 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 valued at $27,000 after purchasing an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in IAC during the fourth quarter valued at approximately $41,000. GAMMA Investing LLC raised its stake in IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after buying an additional 492 shares in the last quarter. Quarry LP lifted its holdings in IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings 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 worth $89,000 after buying an additional 1,916 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

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.