Brokerages Set Altaba Inc (AABA) PT at $94.75

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Shares of Altaba Inc (NASDAQ:AABA) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $94.75.

AABA has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and set a $88.00 price objective (down from $91.00) on shares of Altaba in a research report on Friday, August 24th. BidaskClub downgraded Altaba from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 8th. MKM Partners dropped their target price on Altaba to $115.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. ValuEngine downgraded Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, Gabelli downgraded Altaba from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th.

Shares of AABA stock traded up $2.05 on Wednesday, hitting $61.98. 7,631,477 shares of the company’s stock were exchanged, compared to its average volume of 9,084,184. Altaba has a 12 month low of $57.61 and a 12 month high of $82.45.

A number of institutional investors have recently bought and sold shares of AABA. Kiley Juergens Wealth Management LLC acquired a new stake in shares of Altaba in the second quarter valued at about $143,000. IMA Wealth Inc. acquired a new stake in shares of Altaba in the second quarter valued at about $157,000. NEXT Financial Group Inc acquired a new stake in shares of Altaba in the third quarter valued at about $154,000. Comerica Bank acquired a new stake in shares of Altaba in the second quarter valued at about $204,000. Finally, Pitcairn Co. acquired a new stake in shares of Altaba in the second quarter valued at about $209,000. Hedge funds and other institutional investors own 83.90% of the company’s stock.

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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Analyst Recommendations for Altaba (NASDAQ:AABA)

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