RBC Capital Markets Boosts Yahoo Inc. (YHOO) Price Target to $45.00
Yahoo Inc. (NASDAQ:YHOO) had its price target lifted by research analysts at RBC Capital Markets to $45.00 in a research report issued to clients and investors on Wednesday. RBC Capital Markets’ target price would suggest a potential upside of 7.97% from the company’s previous close.
A number of other brokerages have also commented on YHOO. Bank of America Corp. reiterated a “buy” rating and issued a $48.00 price objective on shares of Yahoo in a research note on Sunday, July 17th. Vetr downgraded Yahoo from a “hold” rating to a “sell” rating and set a $41.12 price objective on the stock. in a research note on Wednesday, August 24th. SunTrust Banks Inc. downgraded Yahoo from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $44.00 to $42.00 in a research note on Monday, July 11th. Royal Bank Of Canada boosted their target price on shares of Yahoo from $38.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, July 19th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $55.00 target price (up previously from $48.00) on shares of Yahoo in a report on Monday, September 19th. Two research 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 currently has a consensus rating of “Hold” and an average price target of $42.24.
Shares of Yahoo (NASDAQ:YHOO) traded up 2.339% during mid-day trading on Wednesday, hitting $42.655. 6,503,916 shares of the stock traded hands. The stock’s market cap is $40.60 billion. The stock has a 50-day moving average of $43.14 and a 200 day moving average of $39.30. Yahoo has a one year low of $26.15 and a one year high of $44.92.
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Yahoo (NASDAQ:YHOO) last announced its earnings results on Tuesday, October 18th. The digital content provider reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. Yahoo had a positive return on equity of 0.32% and a negative net margin of 100.08%. The firm had revenue of $857 million for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $0.15 EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities analysts predict that Yahoo will post $0.49 EPS for the current fiscal year.
In related news, CRO Lisa Utzschneider sold 683 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $43.03, for a total transaction of $29,389.49. Following the transaction, the executive now directly owns 603,484 shares in the company, valued at approximately $25,967,916.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.20% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Nuveen Asset Management LLC raised its position in Yahoo by 5.4% in the first quarter. Nuveen Asset Management LLC now owns 59,618 shares of the digital content provider’s stock valued at $2,195,000 after buying an additional 3,033 shares during the period. Anandar Capital Management LP raised its position in Yahoo by 810.0% in the first quarter. Anandar Capital Management LP now owns 455,000 shares of the digital content provider’s stock valued at $16,749,000 after buying an additional 405,000 shares during the period. Reynolds Capital Management LLC purchased a new position in Yahoo during the first quarter valued at approximately $368,000. Springowl Associates LLC purchased a new position in Yahoo during the first quarter valued at approximately $1,104,000. Finally, Geode Capital Management LLC raised its position in 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 valued at $270,598,000 after buying an additional 152,921 shares during the period. 73.86% of the stock is owned by hedge funds and other 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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