In yesterday’s Wall Street session, IAC/InterActiveCorp (NASDAQ:IAC) shares traded at $52.00, down -3.67% from the previous session.
As we calculate the median target price by taking the range between a high of $120.00 and a low of $54.00, we find $74.00. Given the previous closing price of $53.98, this indicates a potential upside of 37.09 percent. IAC stock price is now 0.71% away from the 50-day moving average and -14.57% away from the 200-day moving average. The market capitalization of the company currently stands at $4.55B.
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Brokers who have rated the stock have averaged $78.50 as their price target over the next twelve months.
With the price target enhanced from $46 to $54, UBS Upgraded its rating from Sell to Neutral for IAC/InterActiveCorp (NASDAQ: IAC). On December 13, 2022, Citigroup recently initiated its ‘Buy’ rating on the stock quoting a target price of $60, while ‘UBS’ rates the stock as ‘Sell’.
In other news, EISNER MICHAEL D, Director bought 32,600 shares of the company’s stock on Nov 23. The stock was bought for $1,561,866 at an average price of $47.91. Upon completion of the transaction, the Director now directly owns 157,084 shares in the company, valued at $8.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 22, Director EISNER MICHAEL D bought 73,641 shares of the business’s stock. A total of $3,444,926 was incurred on buying the stock at an average price of $46.78. This leaves the insider owning 124,484 shares of the company worth $6.47 million. Insiders disposed of 8,094 shares of company stock worth roughly $0.42 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IAC stock. A new stake in IAC/InterActiveCorp shares was purchased by CORVEX MANAGEMENT LP during the first quarter worth $45,248,000. SCHRODER INVESTMENT MANAGEMENT GROUP invested $44,013,000 in shares of IAC during the first quarter. In the first quarter, MANGROVE PARTNERS acquired a new stake in IAC/InterActiveCorp valued at approximately $24,987,000. 59 NORTH CAPITAL MANAGEMENT, LP acquired a new stake in IAC for approximately $22,176,000. WHITEBOX ADVISORS LLC purchased a new stake in IAC valued at around $20,911,000 in the second quarter. In total, there are 565 active investors with 91.30% ownership of the company’s stock.
On Tuesday morning IAC/InterActiveCorp (NASDAQ: IAC) stock kicked off with the opening price of $53.63. During the past 12 months, IAC/InterActiveCorp has had a low of $41.52 and a high of $107.27. As of last week, the company has a debt-to-equity ratio of 0.35, a current ratio of 2.40, and a quick ratio of 2.40. The fifty day moving average price for IAC is $51.63 and a two-hundred day moving average price translates $60.87 for the stock.
The latest earnings results from IAC/InterActiveCorp (NASDAQ: IAC) was released for Sep, 2022. According to the Internet Content & Information Company, earnings per share came in at -$0.74, missing analysts’ expectations of -$0.52 by -0.22. This compares to $0.08 EPS in the same period last year. The net profit margin was -22.40% and return on equity was -18.90% for IAC. The company reported revenue of $1.25 billion for the quarter, compared to $1.16 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.5 percent. For the current quarter, analysts expect IAC to generate $1.26B in revenue.
IAC/InterActiveCorp(IAC) Company Profile
IAC Inc. 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. It also operates a digital marketplace that connects home service professionals with consumers for repairing, remodeling, cleaning, landscaping, maintenance, and enhancement services under the Angi Ads, Angi Leads, and Angi Services brands. In addition, the company operates websites that offer general search services and information, including Ask.com, a search site with a variety of fresh and contemporary content; Reference.com that offers content across select vertical categories; Consumersearch.com, which offers content designed to simplify the product research process; and Shopping.net, a vertical shopping search site that contains a mix of search services and/or content targeted to various user or segment demographics, as well as offers direct-to-consumer downloadable desktop applications. Further, it offers Care.com, an online destination for families to connect with caregivers for their children, aging parents, pets, and homes; develops and provides subscription mobile applications across the communication, language, weather, business, health, and lifestyle verticals; a technology driven staffing platform for flexible W-2 work under the Bluecrew name; a platform to connect healthcare professionals with job opportunities under the Vivian Health name; The Daily Beast, a website dedicated to news, commentary, culture, and entertainment that publishes original reporting and opinion; and production and producer services for feature films for sale and distribution through theatrical releases and video-on-demand services. The company was formerly known as IAC/InterActiveCorp. IAC Inc. is headquartered in New York, New York.
