Altaba (NASDAQ:AABA) had its price target hoisted by research analysts at Credit Suisse Group from $81.00 to $86.00 in a note issued to investors on Wednesday. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s target price suggests a potential upside of 12.96% from the company’s previous close.
A number of other equities analysts have also recently issued reports on AABA. BidaskClub upgraded Altaba from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Vetr upgraded Altaba from a “sell” rating to a “hold” rating and set a $73.32 price target on the stock in a report on Tuesday, January 16th. UBS Group restated a “buy” rating and set a $98.00 price target (up from $92.00) on shares of Altaba in a report on Thursday, February 22nd. JPMorgan Chase & Co. increased their price target on Altaba to $90.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Oppenheimer increased their price target on Altaba from $98.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $71.96.
Altaba (NASDAQ:AABA) traded down $1.95 during trading on Wednesday, hitting $76.13. The company’s stock had a trading volume of 12,425,600 shares, compared to its average volume of 7,924,731. The company has a market cap of $68,193.35, a PE ratio of -3,804.60 and a beta of 2.01. Altaba has a 52-week low of $45.39 and a 52-week high of $80.56.
A number of large investors have recently modified their holdings of the business. SeaCrest Wealth Management LLC purchased a new stake in shares of Altaba during the 4th quarter valued at $103,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Altaba during the 4th quarter valued at $200,000. Palladium Partners LLC purchased a new stake in shares of Altaba during the 4th quarter valued at $203,000. Centaurus Financial Inc. purchased a new stake in shares of Altaba during the 4th quarter valued at $208,000. Finally, Lehman Financial Resources Inc. purchased a new stake in shares of Altaba during the 4th quarter valued at $209,000. Institutional investors and hedge funds own 77.98% of the company’s stock.
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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