Yahoo! Inc. (NASDAQ:AABA) has been assigned a consensus rating of “Buy” from the twenty-eight analysts that are presently covering the stock, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $51.27.
Several research analysts recently commented on the stock. B. Riley dropped coverage on shares of Yahoo! in a research note on Wednesday, June 14th. UBS AG reaffirmed a “buy” rating and issued a $58.00 target price (up from $50.00) on shares of Yahoo! in a research note on Wednesday, May 24th. Oppenheimer Holdings, Inc. assumed coverage on shares of Yahoo! in a research note on Thursday, July 6th. They issued an “outperform” rating and a $75.00 target price on the stock. Zacks Investment Research raised shares of Yahoo! from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Wednesday, July 12th. Finally, MKM Partners lifted their target price on shares of Yahoo! from $62.00 to $76.00 and gave the stock a “buy” rating in a research note on Sunday, September 3rd.
Yahoo! (NASDAQ AABA) traded down 0.69% during midday trading on Tuesday, hitting $63.58. 3,298,320 shares of the stock were exchanged. Yahoo! has a 1-year low of $38.24 and a 1-year high of $66.20. The stock’s market cap is $60.99 billion. The company’s 50 day moving average is $61.18 and its 200-day moving average is $52.66.
A number of large investors have recently modified their holdings of the business. Disciplined Growth Investors Inc. MN purchased a new position in Yahoo! in the 2nd quarter worth about $128,338,000. Cibc World Markets Corp purchased a new position in Yahoo! in the 2nd quarter worth about $108,960,000. Atlantic Trust Group LLC purchased a new position in Yahoo! in the 2nd quarter worth about $1,139,000. Pacer Advisors Inc. purchased a new position in Yahoo! in the 2nd quarter worth about $1,108,000. Finally, Cowen Prime Services LLC purchased a new position in Yahoo! in the 2nd quarter worth about $183,000. 72.70% of the stock is owned by institutional investors and hedge funds.
Altaba Inc (the Fund), formerly Yahoo! Inc, is a non-diversified, closed-end management investment company. The Fund seeks to track the combined investment return of the Alibaba Shares and the Yahoo Japan Shares it owns. Alibaba Shares represent an approximate 15% equity interest in Alibaba Group Holding Limited (Alibaba), and its Yahoo Japan Corporation ((Yahoo Japa) Shares represent an approximate 36% equity interest in Yahoo Japan.
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