The Goldman Sachs Group Issues Positive Forecast for IAC (NASDAQ:IAC) Stock Price

IAC (NASDAQ:IAC) had its price target upped by stock analysts at The Goldman Sachs Group from $48.00 to $56.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 25.28% from the stock’s previous close.

IAC has been the subject of several other research reports. Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Benchmark reiterated a “buy” rating on shares of IAC in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of IAC in a research note on Thursday, January 22nd. Zacks Research upgraded shares of IAC from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Finally, Needham & Company LLC set a $57.00 price target on shares of IAC in a research note on Tuesday, March 3rd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus target price of $49.15.

IAC Stock Performance

Shares of NASDAQ:IAC traded up $0.10 during trading on Tuesday, hitting $44.70. 393,398 shares of the company traded hands, compared to its average volume of 1,062,994. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $39.48 and its 200-day moving average is $37.38. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -33.59 and a beta of 1.06. IAC has a one year low of $29.56 and a one year high of $45.82.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). The company had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million. IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The company’s revenue for the quarter was down 34.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.39) EPS. As a group, equities analysts predict that IAC will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of IAC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System acquired a new stake in shares of IAC in the 1st quarter worth approximately $1,157,000. OP Asset Management Ltd bought a new stake in IAC during the first quarter worth approximately $1,919,000. Rockefeller Capital Management L.P. lifted its position in IAC by 251.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,937 shares of the company’s stock worth $76,000 after purchasing an additional 1,386 shares during the period. Corient Private Wealth LLC boosted its stake in IAC by 64.3% during the 4th quarter. Corient Private Wealth LLC now owns 16,076 shares of the company’s stock valued at $629,000 after purchasing an additional 6,292 shares in the last quarter. Finally, Flax Pond Capital LLC bought a new position in IAC during the 4th quarter valued at $3,898,000. 88.90% of the stock is currently owned by institutional investors.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.