Needham & Company LLC Lowers Yahoo Inc. (YHOO) to Hold
Yahoo Inc. (NASDAQ:YHOO) was downgraded by equities researchers at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday. They currently have a $40.00 target price on the digital content provider’s stock. Needham & Company LLC’s price target would suggest a potential downside of 4.03% from the company’s current price.
YHOO has been the subject of several other reports. Citigroup Inc. reissued a “buy” rating on shares of Yahoo in a report on Monday, September 26th. Jefferies Group reissued a “buy” rating on shares of Yahoo in a report on Monday, July 11th. Nomura set a $39.00 price objective on Yahoo and gave the company a “neutral” rating in a report on Tuesday, July 19th. Macquarie downgraded Yahoo from an “outperform” rating to a “neutral” rating and set a $39.00 price target for the company. in a report on Monday, July 25th. Finally, Vetr downgraded Yahoo from a “hold” rating to a “sell” rating and set a $41.44 price target for the company. in a report on Thursday, August 18th. Two investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $41.04.
Shares of Yahoo (NASDAQ:YHOO) traded down 0.26% during midday trading on Tuesday, reaching $41.68. 19,360,802 shares of the company’s stock traded hands. The stock’s 50 day moving average is $43.14 and its 200-day moving average is $39.30. The company’s market capitalization is $39.67 billion. Yahoo has a 52 week low of $26.15 and a 52 week high of $44.92.
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Yahoo (NASDAQ:YHOO) last posted its quarterly earnings data on Tuesday, October 18th. The digital content provider reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06. The business earned $857 million during the quarter, compared to the consensus estimate of $1.31 billion. Yahoo had a positive return on equity of 0.32% and a negative net margin of 100.08%. The company’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. On average, analysts forecast that Yahoo will post $0.49 earnings per share for the current fiscal year.
In other Yahoo news, CRO Lisa Utzschneider sold 732 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $42.84, for a total transaction of $31,358.88. Following the completion of the transaction, the executive now owns 612,081 shares in the company, valued at approximately $26,221,550.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in YHOO. Nuveen Asset Management LLC raised its position in shares of Yahoo by 5.4% in the first quarter. Nuveen Asset Management LLC now owns 59,618 shares of the digital content provider’s stock worth $2,195,000 after buying an additional 3,033 shares during the period. Anandar Capital Management LP raised its position in shares of Yahoo by 810.0% in the first quarter. Anandar Capital Management LP now owns 455,000 shares of the digital content provider’s stock worth $16,749,000 after buying an additional 405,000 shares during the period. Reynolds Capital Management LLC acquired a new position in shares of Yahoo during the first quarter worth about $368,000. Springowl Associates LLC acquired a new position in shares of Yahoo during the first quarter worth about $1,104,000. Finally, Geode Capital Management LLC raised its position in shares of Yahoo by 2.1% in the first quarter. Geode Capital Management LLC now owns 7,365,621 shares of the digital content provider’s stock worth $270,598,000 after buying an additional 152,921 shares during the period. Institutional investors own 73.86% of the company’s stock.
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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