Yahoo! Inc. (NASDAQ:YHOO) is a Sunnyvale, California based American multinational Internet corporation whose focus is to make the world’s daily habits more entertaining. This includes checking emails, searching the web, sharing photos, as well as checking the weather, sports scores, or stock quotes. On Tuesday, June 17, YHOO announced their plans to have Native Tumblr Sponsored Post ads to their website, which will be available to purchase through Yahoo Gemini.
The ads will have the same social functions as they do on Tumblr. Yahoo CEO Marissa Mayer noted, “Tumblr is this incredibly powerful platform for brands that is unconstrained by pixel limits. It’s there they can through the power of personality show who they are.” The company believes the Tumblr ads will drive engagement and make it easy for many brands to reach the right market audience.
Yahoo last issued their quarterly earnings data on April 15 of this year. The company is expected to report their second quarter earnings on July 15, 2014.
Shares of Yahoo opened at $34.81 on Tuesday, June 17. The Internet company has a 1-year high of $41.72and a 1-year low of $23.82. The stock’s daily moving average is $34.62 and had a 50-day moving average of $35.11. The market cap for Yahoo is $34.66 billion and its P/E ratio is 28.72.
On June 17, Raymond James analyst Aaron Kessler reiterated an Outperform rating for Yahoo, but lowered his price target from $43 to $40. He reasoned, “Our lower target price for Yahoo reflects our lowered estimates for Alibaba as well as a lower ownership assumption.” Kessler has a +16.1% average return on all stocks and a 56% success rate in making recommendations. He has a +21.8% average return on Yahoo.
MKM analyst Rob Sanderson also maintained a BUY rating for Yahoo on June 17 with a $45 price target. He explained, “We think much of the Alibaba trade for Yahoo is “in the stock,” but think there is another leg into the roadshow and on the public market valuation of YHOO’s remaining stake. Any news on tax efficiencies (while seemingly unlikely for the IPO piece) are largely upside, and materially so.” Sanderson has a +9.3% average return on all stocks and a 50% success rate in making recommendations. He has a +15.1% average return on Yahoo.
Yahoo currently has an analyst consensus of MODERATE BUY.
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Carly Forster writes about stock market news. She can be reached at Carly@tipranks.com