Yahoo Inc. (YHOO) Downgraded by Needham & Company LLC to Hold
Yahoo Inc. (NASDAQ:YHOO) was downgraded by stock analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
A number of other equities analysts have also commented on YHOO. Bank of America Corp. restated a “buy” rating and issued a $48.00 price objective on shares of Yahoo in a research report on Sunday, July 17th. Royal Bank Of Canada restated a “hold” rating on shares of Yahoo in a research report on Sunday, July 17th. Cantor Fitzgerald restated a “buy” rating on shares of Yahoo in a research report on Saturday, July 9th. JMP Securities restated a “hold” rating on shares of Yahoo in a research report on Monday, July 18th. Finally, B. Riley restated a “neutral” rating and issued a $38.00 price objective on shares of Yahoo in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and sixteen have assigned a buy rating to the company. Yahoo presently has an average rating of “Hold” and an average price target of $41.04.
Shares of Yahoo (NASDAQ:YHOO) opened at 41.79 on Tuesday. Yahoo has a 1-year low of $26.15 and a 1-year high of $44.92. The company’s market capitalization is $39.77 billion. The stock has a 50 day moving average of $43.16 and a 200-day moving average of $39.26.
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Yahoo (NASDAQ:YHOO) last released its quarterly earnings data on Monday, July 18th. The digital content provider reported $0.09 EPS 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 firm earned $842 million during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.16 earnings per share. Yahoo’s revenue was down 19.3% compared to the same quarter last year. Analysts forecast that Yahoo will post $0.49 earnings per share for the current year.
In other Yahoo news, CRO Lisa Utzschneider sold 683 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $43.03, for a total value of $29,389.49. Following the sale, the executive now owns 603,484 shares in the company, valued at $25,967,916.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. TCI Fund Management Ltd. acquired a new stake in Yahoo during the first quarter worth $530,211,000. Natixis raised its stake in Yahoo by 33.7% in the first quarter. Natixis now owns 14,099,072 shares of the digital content provider’s stock worth $518,987,000 after buying an additional 3,552,539 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in Yahoo during the first quarter worth $123,399,000. Legal & General Group Plc raised its stake in Yahoo by 4.2% in the first quarter. Legal & General Group Plc now owns 3,837,177 shares of the digital content provider’s stock worth $141,245,000 after buying an additional 155,635 shares during the last quarter. Finally, Pax World Management LLC raised its stake in Yahoo by 3.7% in the second quarter. Pax World Management LLC now owns 50,274 shares of the digital content provider’s stock worth $1,888,000 after buying an additional 1,800 shares during the last quarter. Institutional investors and hedge funds 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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