These Analysts Cut Their Forecasts On IAC After Q2 Results

IAC Inc. (NASDAQ:IAC) posted weaker-than-expected sales for the second quarter, after the closing bell on Monday.

The company posted quarterly earnings of $2.57 per share, versus market estimates of a loss of 27 cents per share. The company's sales came in at $586.900 million missing expectations of $601.288 million.

IAC shares fell 13% to close at $34.38 on Tuesday.

These analysts made changes to their price targets on Snap following earnings announcement.

• Oppenheimer analyst Jason Helfstein maintained IAC with an Outperform rating and lowered the price target from $60 to $55.
• Truist Securities analyst Youssef Squali maintained the stock with a Buy and lowered the price target from $61 to $57.

Considering buying IAC stock? Here’s what analysts think:

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