JMP Securities Cuts IAC (NASDAQ:IAC) Price Target to $47.00

IAC (NASDAQ:IAC) had its target price decreased by JMP Securities from $64.00 to $47.00 in a research report report published on Tuesday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other research firms have also weighed in on IAC. The Goldman Sachs Group cut their target price on shares of IAC from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Citigroup lowered their price target on IAC from $47.55 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Piper Sandler lowered their price target on IAC from $54.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Truist Financial lowered their price target on IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Oppenheimer lowered their price target on IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average price target of $54.08.

IAC Trading Down 1.5%

IAC stock opened at $36.55 on Tuesday. The firm has a fifty day moving average price of $35.70 and a 200 day moving average price of $41.31. IAC has a fifty-two week low of $32.05 and a fifty-two week high of $55.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The firm has a market cap of $2.71 billion, a PE ratio of -5.61 and a beta of 1.23.

IAC (NASDAQ:IAC) last posted its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.94) by $1.14. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The firm had revenue of $570.49 million during the quarter, compared to analyst estimates of $809.18 million. During the same period last year, the firm posted $0.51 earnings per share. IAC’s revenue for the quarter was down 8.6% compared to the same quarter last year. Sell-side analysts anticipate that IAC will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of IAC

Several institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new stake in shares of IAC in the first quarter valued at about $1,291,000. Focus Partners Wealth bought a new stake in shares of IAC in the first quarter valued at about $270,000. Empowered Funds LLC raised its holdings in shares of IAC by 9.8% in the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock valued at $369,000 after acquiring an additional 718 shares in the last quarter. United Services Automobile Association bought a new stake in shares of IAC in the first quarter valued at about $207,000. Finally, Caxton Associates LLP bought a new stake in shares of IAC in the first quarter valued at about $694,000. 88.90% of the stock is currently owned by institutional investors.

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.