Barclays Has Lowered Expectations for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target cut by investment analysts at Barclays from $70.00 to $66.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 40.49% from the stock’s previous close.

A number of other research firms also recently weighed in on IAC. Benchmark restated a “buy” rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday. Citigroup reduced their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial lifted their target price on shares of IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. UBS Group upgraded shares of IAC to a “hold” rating in a research report on Monday, October 28th. Finally, KeyCorp decreased their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.91.

IAC Stock Performance

Shares of IAC opened at $46.98 on Wednesday. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $52.13 and a 200-day moving average price of $50.91. IAC has a 12-month low of $43.51 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the prior year, the firm earned ($0.30) EPS. IAC’s quarterly revenue was down 15.5% on a year-over-year basis. Equities analysts expect that IAC will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On IAC

Several institutional investors and hedge funds have recently bought and sold shares of IAC. International Assets Investment Management LLC bought a new stake in shares of IAC during the second quarter valued at approximately $39,000. GAMMA Investing LLC increased its stake in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares in the last quarter. CWM LLC increased its stake in shares of IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after acquiring an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in IAC during the second quarter worth about $60,000. Finally, Innealta Capital LLC purchased a new stake in IAC in the second quarter worth about $146,000. Hedge funds and other 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.