IAC (NASDAQ:IAC) Price Target Lowered to $70.00 at Oppenheimer

IAC (NASDAQ:IAC) had its price objective reduced by equities research analysts at Oppenheimer from $72.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 48.98% from the stock’s current price.

Several other brokerages have also issued reports on IAC. TD Cowen dropped their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Barclays dropped their target price on shares of IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Finally, KeyCorp lowered their price target on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

IAC Stock Down 2.1 %

IAC opened at $46.99 on Thursday. The company has a fifty day moving average of $43.10 and a two-hundred day moving average of $48.21. IAC has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.26 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75.

Hedge Funds Weigh In On IAC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in IAC by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock valued at $497,000 after purchasing an additional 320 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after acquiring an additional 405 shares during the period. Aster Capital Management DIFC Ltd raised its stake in shares of IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock valued at $27,000 after acquiring an additional 457 shares during the period. Victory Capital Management Inc. raised its stake in shares of IAC by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after acquiring an additional 490 shares during the period. Finally, GAMMA Investing LLC raised 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 valued at $53,000 after acquiring an additional 492 shares during the period. 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.