Macquarie Increases Yahoo! Price Target to $34.00 (YHOO)
Investment analysts at Macquarie lifted their price objective on shares of Yahoo! (NASDAQ:YHOO) from $30.00 to $34.00 in a note issued to investors on Wednesday, American Banking & Market News reports. The firm currently has a “neutral” rating on the stock. Macquarie’s price objective indicates a potential upside of 2.75% from the company’s current price.
Shares of Yahoo! (NASDAQ:YHOO) traded down 0.87% during mid-day trading on Wednesday, hitting $33.089. The stock had a trading volume of 44,751,044 shares. Yahoo! has a 52 week low of $15.74 and a 52 week high of $35.06. The stock’s 50-day moving average is $30.99 and its 200-day moving average is $27.37. The company has a market cap of $33.761 billion and a price-to-earnings ratio of 9.19. Yahoo! also was the target of some unusual options trading on Tuesday. Stock traders bought 132,889 call options on the company. This represents an increase of approximately 186% compared to the average daily volume of 46,498 call options.
Yahoo! (NASDAQ:YHOO) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that Yahoo! will post $1.47 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on YHOO. Analysts at JPMorgan Chase & Co. raised their price target on shares of Yahoo! from $30.00 to $32.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Yahoo! from $26.00 to $29.00 in a research note to investors on Wednesday. Finally, analysts at Cantor Fitzgerald raised their price target on shares of Yahoo! from $29.00 to $38.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Twenty investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $31.48.
Yahoo! Inc (NASDAQ:YHOO) is a digital media company.
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