Yahoo! Price Target Lowered to $40.00 at Oppenheimer (YHOO)
Analysts at Oppenheimer dropped their price objective on shares of Yahoo! (NASDAQ:YHOO) from $43.00 to $40.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 14.91% from the stock’s previous close.
In other Yahoo! news, CEO Marissa A. Mayer sold 36,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $36.04, for a total transaction of $1,297,440.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on YHOO. Analysts at Bank of America reiterated a “buy” rating on shares of Yahoo! in a research note on Thursday, June 5th. They now have a $42.00 price target on the stock, down previously from $43.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Yahoo! in a research note on Tuesday, May 27th. They now have a $37.00 price target on the stock. Finally, analysts at ING Group reiterated an “outperform” rating on shares of Yahoo! in a research note on Friday, May 23rd. They now have a $45.00 price target on the stock, down previously from $47.00. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Yahoo! currently has an average rating of “Buy” and an average price target of $39.79.
Yahoo! (NASDAQ:YHOO) opened at 34.81 on Tuesday. Yahoo! has a one year low of $23.82 and a one year high of $41.72. The stock’s 50-day moving average is $35.09 and its 200-day moving average is $37.14. The company has a market cap of $35.047 billion and a price-to-earnings ratio of 30.81. Yahoo! also saw a large decline in short interest in the month of May. As of May 30th, there was short interest totalling 22,852,851 shares, a decline of 6.6% from the May 15th total of 24,477,024 shares. Based on an average daily volume of 15,290,756 shares, the days-to-cover ratio is presently 1.5 days. Currently, 2.5% of the shares of the company are sold short.
Yahoo! (NASDAQ:YHOO) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $0.01. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Yahoo! will post $1.63 earnings per share for the current fiscal year.
Yahoo! Inc (NASDAQ:YHOO) is a global technology company.
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