RBC Capital Markets Increases Yahoo Inc. (YHOO) Price Target to $45.00
Yahoo Inc. (NASDAQ:YHOO) had its price objective boosted by equities researchers at RBC Capital Markets to $45.00 in a research report issued on Wednesday. RBC Capital Markets’ price objective indicates a potential upside of 7.97% from the stock’s previous close.
A number of other analysts also recently commented on the company. Susquehanna boosted their target price on Yahoo from $44.00 to $48.00 and gave the stock a “positive” rating in a research report on Wednesday. Nomura set a $45.00 price objective on Yahoo and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank Of Canada upped their price objective on Yahoo from $39.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday. Mizuho upped their price objective on Yahoo from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, B. Riley restated a “neutral” rating and issued a $44.00 price objective on shares of Yahoo in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and sixteen have given a buy rating to the company’s stock. Yahoo has an average rating of “Hold” and a consensus price target of $42.24.
Shares of Yahoo (NASDAQ:YHOO) traded up 2.483% during mid-day trading on Wednesday, hitting $42.715. The company’s stock had a trading volume of 6,362,176 shares. The company’s market cap is $40.66 billion. The stock has a 50-day moving average of $43.14 and a 200-day moving average of $39.30. 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 data on Tuesday, October 18th. The digital content provider reported $0.20 earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. Yahoo’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities research analysts forecast that Yahoo will post $0.49 EPS for the current year.
In related news, CRO Lisa Utzschneider sold 732 shares of Yahoo stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $39.01, for a total transaction of $28,555.32. Following the completion of the sale, the executive now owns 618,268 shares of the company’s stock, valued at $24,118,634.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.20% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC boosted its stake in Yahoo by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 6,751 shares of the digital content provider’s stock worth $254,000 after buying an additional 68 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Yahoo by 0.8% in the second quarter. Stratos Wealth Partners LTD. now owns 10,504 shares of the digital content provider’s stock valued at $395,000 after buying an additional 85 shares during the period. NEXT Financial Group Inc raised its position in Yahoo by 0.7% in the second quarter. NEXT Financial Group Inc now owns 13,450 shares of the digital content provider’s stock valued at $505,000 after buying an additional 100 shares during the period. Glenmede Trust Co. NA raised its position in Yahoo by 2.7% in the second quarter. Glenmede Trust Co. NA now owns 4,512 shares of the digital content provider’s stock valued at $169,000 after buying an additional 120 shares during the period. Finally, Wetherby Asset Management Inc. raised its position in Yahoo by 2.3% in the second quarter. Wetherby Asset Management Inc. now owns 12,234 shares of the digital content provider’s stock valued at $460,000 after buying an additional 277 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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