DoD tests AI models that make it easy to switch from vendors like Palantir
In a challenging market environment, IAC/InterActiveCorp (NASDAQ:IAC)'s stock has reached a 52-week low, dipping to $40.97. According to InvestingPro data, the company's market capitalization stands at $3.6 billion, with analysis suggesting the stock may be undervalued at current levels. The digital media and internet company, which owns a broad portfolio of brands and products, has faced significant headwinds over the past year, reflected in a 1-year change showing a decline of 19.66%. Revenue has declined approximately 15% over the last twelve months, though the company maintains strong liquidity with a current ratio of 2.75. This downturn mirrors broader market trends as investors recalibrate their expectations in the face of economic uncertainty and shifting industry dynamics. The 52-week low marks a critical point for IAC as it navigates through these turbulent times, with stakeholders closely monitoring its performance and strategic moves ahead. For deeper insights into IAC's financial health and growth prospects, InvestingPro subscribers can access comprehensive analysis including 8 additional ProTips and detailed valuation metrics.
In other recent news, Match Group (NASDAQ:MTCH) announced the initiation of a quarterly dividend program and a $1.5 billion share buyback authorization. The company plans to return at least 75% of its free cash flow to shareholders through buybacks. The company's Q4 2024 financial outlook was updated with revenues expected to meet previous forecasts, excluding foreign exchange impacts.
Meanwhile, IAC Inc. reported a slight surpass in Q3 revenue estimates, primarily due to performance in its Search, Dotdash, and Emerging segments. IAC and its subsidiary, Dotdash Meredith (NYSE:MDP) Inc., have successfully amended their credit agreement with JPMorgan Chase (NYSE:JPM) Bank, N.A., resulting in reduced interest rates for term loans.
In analyst news, Piper Sandler downgraded IAC's rating to neutral and reduced its price target to $54. In contrast, TD Cowen revised its price target for IAC to $77 from the previous $82, maintaining a Buy rating.
IAC and its subsidiary Angi Inc. have outlined a strategic growth plan, including a planned spin-off of Angi, which is anticipated to enhance profitability and focus on customer experience. These are the recent developments in the company's operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.