Yahoo Inc. (YHOO) Given New $46.00 Price Target at Credit Suisse Group AG
Yahoo Inc. (NASDAQ:YHOO) had its price objective lowered by investment analysts at Credit Suisse Group AG from $47.00 to $46.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “neutral” rating on the digital content provider’s stock. Credit Suisse Group AG’s price target points to a potential upside of 6.43% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley cut shares of Yahoo from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $46.00 to $42.00 in a research report on Tuesday, July 26th. Macquarie cut shares of Yahoo from an “outperform” rating to a “neutral” rating and set a $39.00 price target for the company. in a research report on Monday, July 25th. Evercore ISI began coverage on shares of Yahoo in a research report on Monday, July 25th. They set a “hold” rating and a $39.00 price target for the company. Bank of America Corp. reissued a “buy” rating and issued a $48.00 price objective on shares of Yahoo in a research note on Monday, July 25th. Finally, B. Riley reissued a “neutral” rating and issued a $38.00 price objective on shares of Yahoo in a research note on Monday, July 25th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $40.61.
Yahoo (NASDAQ:YHOO) traded down 1.05% on Tuesday, hitting $43.22. 8,502,112 shares of the company traded hands. The firm’s market capitalization is $41.14 billion. The stock’s 50-day moving average is $43.17 and its 200 day moving average is $38.95. Yahoo has a 12 month low of $26.15 and a 12 month high of $44.92.
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Yahoo (NASDAQ:YHOO) last announced its quarterly earnings results on Monday, July 18th. The digital content provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by $0.01. Yahoo had a negative net margin of 100.08% and a positive return on equity of 0.32%. The company had revenue of $842 million for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. Yahoo’s revenue was down 19.3% on a year-over-year basis. Equities analysts forecast that Yahoo will post $0.49 EPS for the current fiscal year.
In other news, CRO Lisa Utzschneider sold 732 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $43.94, for a total transaction of $32,164.08. Following the completion of the transaction, the executive now directly owns 605,893 shares in the company, valued at approximately $26,622,938.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 9.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in YHOO. BNP Paribas Arbitrage SA boosted its position in Yahoo by 251.9% in the third quarter. BNP Paribas Arbitrage SA now owns 2,983,410 shares of the digital content provider’s stock valued at $128,585,000 after buying an additional 2,135,530 shares during the period. Eqis Capital Management Inc. boosted its position in shares of Yahoo by 11.1% in the third quarter. Eqis Capital Management Inc. now owns 13,749 shares of the digital content provider’s stock valued at $593,000 after buying an additional 1,372 shares during the period. Macquarie Group Ltd. boosted its position in shares of Yahoo by 6.9% in the second quarter. Macquarie Group Ltd. now owns 1,207,700 shares of the digital content provider’s stock valued at $45,361,000 after buying an additional 77,450 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Yahoo during the second quarter valued at about $1,325,000. Finally, Kentucky Retirement Systems purchased a new position in shares of Yahoo during the second quarter valued at about $2,791,000. Institutional investors own 73.65% of the company’s stock.
Yahoo Company Profile
Yahoo! Inc (Yahoo), along with its subsidiaries, is engaged in digital information discovery. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific. The Company focuses on informing, connecting and entertaining its users with its search (Yahoo search), communications, including Yahoo Mail and Yahoo Messenger, and digital content products, including Tumblr, and its four verticals, such as Yahoo News, Yahoo Sports, Yahoo Finance and Yahoo Lifestyle.
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