Citigroup Issues Positive Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target boosted by Citigroup from $56.00 to $58.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on IAC. KeyCorp cut their target price on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Benchmark reissued a “buy” rating and set a $110.00 price objective on shares of IAC in a research report on Tuesday, November 12th. Barclays dropped their price target on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and issued a $70.00 price objective on shares of IAC in a research note on Monday, December 16th. Finally, Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. Three 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.67.

IAC Stock Performance

Shares of IAC opened at $42.33 on Friday. The stock has a market capitalization of $3.41 billion, a P/E ratio of -98.44 and a beta of 1.32. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $44.00 and its two-hundred day simple moving average is $48.74. IAC has a 12 month low of $39.61 and a 12 month high of $58.29.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.30) EPS. As a group, analysts predict that IAC will post -3.97 EPS for the current year.

Institutional Trading of IAC

A number of large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of IAC by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock worth $153,252,000 after acquiring an additional 66,347 shares during the period. State Street Corp boosted its position in IAC by 1.2% during the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after purchasing an additional 28,577 shares during the period. Geode Capital Management LLC raised its position in shares of IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after purchasing an additional 25,909 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of IAC by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after purchasing an additional 52,271 shares during the period. Finally, Joel Isaacson & Co. LLC lifted its stake in shares of IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock valued at $18,302,000 after buying an additional 359,327 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.