The stock of IAC/InterActiveCorp (NASDAQ:IAC) increased by $1.13 on Friday to finish at $58.66, up 1.96 percent. The last five days have seen an average of 1,200,800 shares of common stock traded. 31 times new highs were reached in the current year, with a gain of $14.26. The average number of shares traded over the last 20 days was 676,970, while the average volume over the last 50 days totaled 571,342.
IAC stock dropped -14.54% since last month. On 08/10/23, the company’s shares reached a one-month low of $55.26. The stock touched a high of $79.57 on 08/01/23, after rallying from a low of $41.52 in 52 weeks. The price of IAC stock has risen by 32.12% or $14.26 this year, reaching a new high 31 times. Still, the stock price is down -26.28% from the 52-week high.
Insider Transactions
IAC stock investors should be aware that IAC/InterActiveCorp (IAC) stock had its last reported insider trading activity 264 days ago on Nov 23. On Nov 23, Director EISNER MICHAEL D acquired 32,600 shares at $47.91 each. This transaction resulted in the insider spending $1,561,866. On Nov 22, EISNER MICHAEL D added 73,641 shares at a price of US$46.78. After the transaction, the insider now owns 124,484 shares. 10% Owner IAC Inc. had earlier bought 51,100 shares on Aug 23 for $34.41 a share. The transaction was completed for $1,758,351.
Valuation Metrics
IAC/InterActiveCorp (IAC) has a trailing price-to-earnings (P/E) ratio of 19.40. Beta for the stock is 1.29. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.04, the price-to-book (PB) ratio of 0.80.
Company paid $0.34 per share in dividends, remained unchanged from $0.34 last year.
Financial Health
For the three months ended June 29, IAC/InterActiveCorp’s quick ratio was 2.10, while its current ratio was 2.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.33, and the total debt to equity ratio is 0.33. As far as profitability goes, gross margin for the trailing twelve months is 67.10% percent. IAC/InterActiveCorp’s EBITDA margin for the year ended June 29 was 4.21%, whereas its operating margin stood at -7.00% for the same period. Based on annual data, it had gross profit of $3.31 billion and revenue of $5.24 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IAC’s return on assets (ROA) during the last 12 months has been 2.50%. There was a -1.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 4.40%.
Earnings Surprise
According to IAC/InterActiveCorp’s quarterly financial report for the quarter that ended June 29, it had $2.01 billion in total debt versus $115.56 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.11 billion, while revenues fell by -22.58% to $1.08 billion. It was predicted that IAC/InterActiveCorp’s quarterly earnings would be -$1.07, but it ended up being -$0.82, beating the consensus by -30.50%. EBITDA was $39.99 million for the quarter. At the end of IAC/InterActiveCorp’s most recent quarter ended June 29, its liabilities totaled 3.77 billion, while its total debt was $2.04 billion. Equity owned by shareholders amounts to $85.85 million.
Technical Picture
Here’s a quick look at IAC/InterActiveCorp’s (IAC) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 32.51%, suggesting the stock is Neutral, with a 92.91% historical volatility rate.
The stochastic %K and %D were 13.73% and 23.12% respectively, while the average true range (ATR) was 2.83. Based on the 14-day stochastic reading of 23.30%, the RSI (14) reading is 36.51%. On the 9-day MACD Oscillator, the stock is at -6.59, and the 14-day reading is at -7.60.
Analyst Ratings
In its most recent analyst report, UBS raised its rating on IAC/InterActiveCorp (NASDAQ: IAC) to a Neutral. Prior to this, analysts firm rated the stock as a Sell. Analysts have assigned IAC/InterActiveCorp (IAC) an Buy rating. IAC is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 13 others recommend it as a buy.
What is IAC’s price target for the next 12 months?
The current consensus forecast for the stock is between $69.00 and $115.00, with a median target price of $78.50. In analyzing these forecasts, the average price target given by analysts for IAC/InterActiveCorp (IAC) is $81.57.
