Analysts Set IAC Inc. (NASDAQ:IAC) Price Target at $79.77

Shares of IAC Inc. (NASDAQ:IAC) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $79.77.

A number of research analysts have recently issued reports on the company. Oppenheimer increased their target price on IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. JMP Securities assumed coverage on IAC in a report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price objective on the stock. Wells Fargo & Company raised their price objective on IAC from $82.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Truist Financial raised their price objective on IAC from $80.00 to $87.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Citigroup decreased their price objective on IAC from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 9th.

IAC Price Performance

Shares of NASDAQ:IAC opened at $48.67 on Thursday. The company has a market cap of $3.91 billion, a PE ratio of -30.80 and a beta of 1.32. IAC has a twelve month low of $41.39 and a twelve month high of $69.85. The company’s 50 day moving average is $49.83 and its 200 day moving average is $51.20. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.93) EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.21. The business had revenue of $929.68 million for the quarter, compared to analysts’ expectations of $937.68 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. On average, sell-side analysts forecast that IAC will post 0.09 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Citigroup Inc. increased its position in shares of IAC by 9.4% in the third quarter. Citigroup Inc. now owns 15,286 shares of the company’s stock valued at $770,000 after buying an additional 1,315 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in IAC by 14.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 194,635 shares of the company’s stock worth $9,808,000 after buying an additional 24,935 shares during the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in IAC in the 4th quarter worth about $345,000. Parkside Investments LLC boosted its stake in IAC by 13.8% in the 4th quarter. Parkside Investments LLC now owns 176,269 shares of the company’s stock worth $9,233,000 after buying an additional 21,400 shares during the last quarter. Finally, Chemistry Wealth Management LLC boosted its stake in IAC by 14.5% in the 4th quarter. Chemistry Wealth Management LLC now owns 14,592 shares of the company’s stock worth $764,000 after buying an additional 1,845 shares during the last quarter. Hedge funds and other institutional investors 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.