RBC Capital Raises Price Target on Yahoo! (YHOO) to $45 Following 3Q

October 19, 2016 9:42 AM EDT
Get Alerts YHOO Hot Sheet
Price: $42.05 -0.1%

Rating Summary:
    20 Buy, 26 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade YHOO Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

RBC Capital reiterated a Sector Perform rating on Yahoo! (NASDAQ: YHOO), and raised the price target to $45.00 (from $39.00), following the company's 3Q earnings report. YHOO reported revenue of $858MM, relatively in-line with the Street's estimate. 2017 Net Revenue estimate remains unchanged at $3.7B.

Analyst Mark Mahaney commented, "YHOO reported Q3 Net Revenue of $858MM, generally in-line with Street estimates and in the middle of the company’s guidance range. Net Revenue declined 14% Y/ Y, a modest trend improvement vs. the prior three quarters. Adjusted EBITDA of $229MM came in ahead of the Street at $207MM and above the company’s guidance range. EBITDA Margin was up 230 bps Y/Y to 26.7%, with EBITDA declining 6% Y/Y, a significant trend improvement vs. the prior three quarters. For the December Quarter, YHOO tightened its Net Revenue guidance range and raised its EBITDA guidance range."

For an analyst ratings summary and ratings history on Yahoo! click here. For more ratings news on Yahoo! click here.

Shares of Yahoo! closed at $41.68 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

RBC Capital, Earnings, Mark Mahaney

Add Your Comment