JMP Securities Issues Pessimistic Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target decreased by JMP Securities from $70.00 to $64.00 in a report published on Thursday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other research analysts also recently issued reports on the stock. TD Cowen decreased their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Truist Financial decreased their price objective on shares of IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday. Citigroup increased their target price on IAC from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 31st. Piper Sandler downgraded IAC from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Finally, Benchmark reiterated a “buy” rating and issued a $110.00 price objective on shares of IAC in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.33.

IAC Stock Up 10.6 %

Shares of NASDAQ IAC opened at $47.97 on Thursday. The stock has a market cap of $3.86 billion, a P/E ratio of -111.56 and a beta of 1.32. The business’s fifty day simple moving average is $43.10 and its 200-day simple moving average is $48.21. IAC has a 12-month low of $39.61 and a 12-month high of $58.29. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last posted its quarterly 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). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The company had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same period in the prior year, the business earned ($0.30) EPS. IAC’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, equities analysts predict that IAC will post -3.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of IAC by 20.4% during the third quarter. SG Americas Securities LLC now owns 8,022 shares of the company’s stock worth $432,000 after acquiring an additional 1,358 shares during the last quarter. GAMMA Investing LLC grew its position in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the last quarter. Creative Planning increased its stake in IAC by 55.7% in the third quarter. Creative Planning now owns 14,380 shares of the company’s stock valued at $774,000 after purchasing an additional 5,145 shares during the period. Raymond James & Associates increased its stake in IAC by 7.7% in the third quarter. Raymond James & Associates now owns 48,353 shares of the company’s stock valued at $2,602,000 after purchasing an additional 3,471 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in shares of IAC in the third quarter valued at about $560,000. Institutional investors and hedge funds 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.