Macquarie Reiterates “Outperform” Rating for Phoenix New Media (FENG)
Phoenix New Media (NASDAQ:FENG)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Macquarie in a research note issued to investors on Wednesday. They currently have a $16.00 price objective on the stock, down from their previous price objective of $17.00. Macquarie’s price target suggests a potential upside of 55.64% from the company’s current price.
Separately, analysts at TheStreet upgraded shares of Phoenix New Media from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $13.03.
Shares of Phoenix New Media (NASDAQ:FENG) traded down 0.49% on Wednesday, hitting $10.23. 485,484 shares of the company’s stock traded hands. Phoenix New Media has a 52 week low of $8.08 and a 52 week high of $13.58. The stock’s 50-day moving average is $10.37 and its 200-day moving average is $10.36. The company has a market cap of $788.0 million and a P/E ratio of 15.82. Phoenix New Media also saw unusually large options trading activity on Tuesday. Stock investors bought 2,200 call options on the stock. This represents an increase of 393% compared to the typical daily volume of 446 call options.
Phoenix New Media Limited (NASDAQ:FENG) is a new media company providing content on an integrated platform across Internet, mobile and television (TV) channels in China.
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