Oppenheimer Analyst Maintains Outperform Rating and Raises Price Target for IAC

On May 11, 2023, Oppenheimer analyst Jason Helfstein maintained an Outperform rating for IAC (NASDAQ:IAC) and raised the price target from $70 to $75. This new price target is an increase from the previous target set in February 2022. IAC is a media and internet company that owns numerous brands, including Vimeo, which the company recently announced plans to spin off. This announcement caused a significant increase in IAC’s stock price. The rise in Oppenheimer’s price target could be due to the positive impact of the Vimeo spin-off on IAC’s financials. It is worth noting, however, that in December 2020, Oppenheimer had set a price target of $210 for IAC following the Vimeo spin-off proposal. IAC Stock Price Increases on May 11, 2023, Despite Negative Net Profit Margin: An Overview for Investors On May 11, 2023, IAC stock opened at $60.93, significantly higher than its previous close of $53.68. Throughout the day, the stock’s price fluctuated between a low of $59.71 and a high of $62.74, with a volume of 2,571,193 shares traded. The stock’s market cap was $4.6B, and its price-to-sales and price-to-book ratios were 0.73 and 0.80, respectively. IAC is a technology services company that operates in the
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