Altaba Inc (NASDAQ:AABA) Receives Average Recommendation of “Hold” from Analysts

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Altaba Inc (NASDAQ:AABA) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $96.50.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Realogy from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. ValuEngine downgraded shares of Valero Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Zacks Investment Research upgraded shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Tuesday, June 4th.

Several institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Altaba in the fourth quarter worth $255,165,000. Lazard Asset Management LLC boosted its stake in Altaba by 17.9% during the first quarter. Lazard Asset Management LLC now owns 3,169,072 shares of the company’s stock worth $234,891,000 after buying an additional 480,867 shares in the last quarter. CIBC World Markets Inc. boosted its stake in Altaba by 18,750.8% during the first quarter. CIBC World Markets Inc. now owns 2,621,208 shares of the company’s stock worth $194,284,000 after buying an additional 2,607,303 shares in the last quarter. FMR LLC boosted its stake in Altaba by 34.7% during the fourth quarter. FMR LLC now owns 2,531,212 shares of the company’s stock worth $146,658,000 after buying an additional 652,283 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Altaba by 41.9% during the first quarter. Wells Fargo & Company MN now owns 2,175,387 shares of the company’s stock worth $161,240,000 after buying an additional 642,417 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Shares of NASDAQ:AABA traded down $0.09 during trading on Friday, reaching $70.44. The stock had a trading volume of 2,139,963 shares, compared to its average volume of 6,864,932. Altaba has a 52 week low of $54.75 and a 52 week high of $79.18. The firm’s fifty day moving average is $66.75.

Altaba Company Profile

Altaba Inc operates as a non-diversified, closed-end management investment company in the United States. Its assets consist primarily of equity investments, short-term debt investments, and cash. The company was formerly known as Yahoo! Inc and changed its name to Altaba Inc in June 2017. Altaba Inc was founded in 1994 and is based in New York, New York.

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