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Yahoo! (NASDAQ:YHOO) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday. They currently have a $32.00 price objective on the stock. Zacks‘s price objective would suggest a potential downside of 10.36% from the stock’s previous close.

Zacks’ analyst wrote, “Yahoo! Inc. is one of the leading providers of web-based services and advertisements. Second-quarter earnings were in-line with the Zacks Consensus Estimate helped by a lower share count. Despite the uncertainty surrounding the search and the display business, we are encouraged by the company’s focus on product upgrades, acquisitions and growth initiatives that are improving engagement on Yahoo properties. However, separating Alibaba automatically lowers the EPS and the increased focus on the struggling core business is a pressure on share prices. We therefore have a Neutral rating on the shares.”

In other Yahoo! news, CFO Kenneth A. Goldman sold 7,500 shares of Yahoo! stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $35.63, for a total value of $267,225.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Yahoo! in a research note on Thursday, July 17th. They now have a $39.00 price target on the stock, down previously from $42.00. Separately, analysts at MKM Partners cut their price target on shares of Yahoo! from $45.00 to $42.00 in a research note on Wednesday, July 16th. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna cut their price target on shares of Yahoo! from $40.00 to $36.00 in a research note on Wednesday, July 16th. They now have a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $39.77.

Yahoo! (NASDAQ:YHOO) traded up 0.35% on Wednesday, hitting $35.8249. The stock had a trading volume of 7,150,074 shares. Yahoo! has a 52 week low of $26.75 and a 52 week high of $41.72. The stock has a 50-day moving average of $34. and a 200-day moving average of $35.91. The company has a market cap of $36.351 billion and a P/E ratio of 30.78.

Yahoo! (NASDAQ:YHOO) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.01. The company had revenue of $1.04 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 2.9% on a year-over-year basis. On average, analysts predict that Yahoo! will post $1.42 earnings per share for the current fiscal year.

Yahoo! Inc (NASDAQ:YHOO), is a global technology company.

To view Zacks’ full report, visit Zacks’ official website.

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