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Investing.com - Benchmark lowered its price target on IAC/InterActiveCorp (NASDAQ:IAC) to $57.00 from $60.00 on Wednesday, while maintaining a Buy rating on the stock.
The price target adjustment follows what Benchmark described as "a fairly solid result ex-items against a difficult comparison," despite an initial negative market reaction to IAC’s earnings report.
Benchmark highlighted comments from IAC Executive Chairman Barry Diller indicating that People and MGM are the company’s only two core assets, with plans for the company to "get leaner over time." This includes a recent 6% reduction in force, with half of those cost savings expected to flow through to the bottom line.
The research firm noted several potential catalysts for IAC, including possible upcoming AI-related wins, potential asset sales, and the company’s legal case against Google regarding "monopolistic actions in the publishing arena."
Benchmark slightly reduced its 2026 financial projections for IAC but maintained flexibility in its People segment estimates depending on how much of the workforce reduction impacts financials and what digital revenue growth materializes.
In other recent news, IAC/InterActiveCorp reported its third-quarter 2025 earnings, revealing a slight miss on revenue expectations. The company posted an earnings per share of -$0.27, which was below the forecasted -$0.25, resulting in an 8% negative surprise. Revenue for the quarter was $589.8 million, falling short of the anticipated $601.86 million. In response to these results, UBS adjusted its price target for IAC to $39, citing mixed performance in the People and Care.com segments, while maintaining a Neutral rating. Conversely, Goldman Sachs raised its price target for IAC to $46, maintaining a Buy rating, highlighting a valuation discount between current trading levels and the company’s asset value and operating prospects. Management is reportedly implementing cost reductions to protect shareholder value amid these developments. These recent updates provide investors with important insights into IAC’s current financial situation and strategic adjustments.
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