Mizuho Increases Yahoo Inc. (YHOO) Price Target to $42.00
Yahoo Inc. (NASDAQ:YHOO) had its target price hoisted by equities researchers at Mizuho from $38.00 to $42.00 in a report issued on Wednesday, StockTargetPrices.com reports. The firm presently has a “neutral” rating on the digital content provider’s stock. Mizuho’s price target would suggest a potential upside of 0.77% from the stock’s current price.
Several other analysts have also weighed in on YHOO. Bank of America Corp. reissued a “buy” rating and issued a $48.00 price objective on shares of Yahoo in a report on Sunday, July 17th. Royal Bank Of Canada reissued a “hold” rating on shares of Yahoo in a report on Sunday, July 17th. Cantor Fitzgerald reissued a “buy” rating on shares of Yahoo in a report on Saturday, July 9th. B. Riley reissued a “neutral” rating and issued a $44.00 price objective on shares of Yahoo in a report on Wednesday. Finally, JMP Securities reissued a “hold” rating on shares of Yahoo in a report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Yahoo presently has an average rating of “Hold” and a consensus target price of $41.33.
Shares of Yahoo (NASDAQ:YHOO) opened at 41.68 on Wednesday. The firm’s 50-day moving average price is $43.14 and its 200-day moving average price is $39.30. The firm’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 announced 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 firm earned $857 million during the quarter, compared to analyst estimates of $1.31 billion. Yahoo had a positive return on equity of 0.32% and a negative net margin of 100.08%. Yahoo’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. On average, equities analysts predict that Yahoo will post $0.49 earnings per share for the current fiscal year.
In related news, CRO Lisa Utzschneider sold 683 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $43.03, for a total value of $29,389.49. Following the completion of the transaction, the executive now owns 603,484 shares of the company’s stock, valued at $25,967,916.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. TCI Fund Management Ltd. purchased a new stake in Yahoo during the first quarter valued at $530,211,000. Canyon Capital Advisors LLC raised its stake in Yahoo by 66.9% in the second quarter. Canyon Capital Advisors LLC now owns 18,572,403 shares of the digital content provider’s stock valued at $697,579,000 after buying an additional 7,445,247 shares during the last quarter. 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 valued at $518,987,000 after buying an additional 3,552,539 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in Yahoo during the first quarter valued at $123,399,000. Finally, State Street Corp raised its stake in Yahoo by 9.9% in the first quarter. State Street Corp now owns 36,235,550 shares of the digital content provider’s stock valued at $1,333,822,000 after buying an additional 3,253,009 shares during the last quarter. 73.86% of the stock is owned by institutional investors.
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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