IAC (NASDAQ:IAC) Price Target Increased to $75.00 by Analysts at Oppenheimer

IAC (NASDAQ:IAC) had its price objective increased by equities research analysts at Oppenheimer from $65.00 to $75.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 34.80% from the stock’s current price.

Several other analysts have also recently commented on the stock. KeyCorp reduced their target price on shares of IAC from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. UBS Group increased their price target on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Barclays boosted their price objective on shares of IAC from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial raised their price objective on IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $78.69.

IAC Stock Performance

Shares of NASDAQ IAC traded up $0.57 during trading hours on Thursday, reaching $55.64. The stock had a trading volume of 413,905 shares, compared to its average volume of 792,661. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30. IAC has a fifty-two week low of $41.39 and a fifty-two week high of $69.85. The firm has a 50-day moving average of $51.47 and a 200-day moving average of $50.55. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 22.40 and a beta of 1.34.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.53). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. Equities research analysts predict that IAC will post -2.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in shares of IAC by 130.3% in the 3rd quarter. SG Americas Securities LLC now owns 5,542 shares of the company’s stock worth $279,000 after buying an additional 3,136 shares during the period. Commonwealth Equity Services LLC increased its holdings in IAC by 82.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,990 shares of the company’s stock valued at $453,000 after purchasing an additional 4,051 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in IAC by 17.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 152,518 shares of the company’s stock valued at $7,685,000 after purchasing an additional 22,321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of IAC by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,416 shares of the company’s stock worth $726,000 after purchasing an additional 1,992 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of IAC in the third quarter worth about $1,486,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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.