IAC (NASDAQ:IAC – Get Free Report) had its price objective decreased by equities researchers at Citigroup from $70.00 to $66.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 33.09% from the stock’s current price.
Several other research firms have also issued reports on IAC. KeyCorp upped their price objective on IAC from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Oppenheimer increased their price target on IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a research report on Thursday. JMP Securities assumed coverage on shares of IAC in a report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of IAC from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.75.
Check Out Our Latest Stock Report on IAC
IAC Stock Down 0.1 %
IAC (NASDAQ:IAC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The company had revenue of $949.50 million for the quarter, compared to analyst estimates of $942.77 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the company posted ($0.76) earnings per share. As a group, equities research analysts predict that IAC will post 0.09 EPS for the current year.
Hedge Funds Weigh In On IAC
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new position in IAC in the first quarter valued at about $27,000. International Assets Investment Management LLC acquired a new stake in IAC during the 2nd quarter worth approximately $39,000. CWM LLC boosted its position in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares during the period. 1620 Investment Advisors Inc. bought a new stake in IAC during the 2nd quarter worth approximately $60,000. Finally, Geneos Wealth Management Inc. acquired a new position in IAC in the 1st quarter valued at approximately $80,000. 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.
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