While investors may still be confused as to which direction the board of directors of Yahoo! Inc. (NASDAQ:YHOO) will eventually take, the company seems to have their own little plan. Today Yahoo! Inc. (NASDAQ:YHOO) rolled out sweeping changes for their homepage as well as mobile application.
The changes now focus on a more social and personalized experience for the user, in an effort to hopefully attract new traffic from the likes of Facebook and Twitter. It will also make finding news and commenting on that news much faster.
“With this update, we’ve made it possible to sift through more content in less time,” writes the company. “You no longer need to open individual articles in multiple browser tabs; instead, you can simply scroll through related stories inline. Up top, our editors pick some of the most important stories you need to know, alongside content most relevant to you. For a more in-depth understanding of a story, see related stories by clicking the “heart” icon, or clicking through to find additional related stories below each article. Over time, as you click on more content, the Yahoo stream becomes more tailored to your interests. The more you use the app and homepage, the better your experience will be.”
The new mobile app will be available on Android devices shortly. The stock is down 2.22% or $0.66 following the news, hitting $29.03 per share. Approximately 2.97 million shares traded hands. YHOO shares have declined 26.96% since June 23, 2015 and are currently downtrending. It has underperformed the S&P500 by 18.09%.
From a total of 24 analysts covering Yahoo! Inc. (NASDAQ:YHOO) stock, 15 rate it a “Buy”, 0 a “Sell”, and 9 a “Hold”. This means that 63% of the ratings are positive. The highest target price is $62 while the lowest target price is $32. The mean of all analyst targets is $42.50 which is 46.40% above today’s ($29.03) stock price. Yahoo! Inc. was the topic of 60 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. SunTrust maintained shares on December 10 with a “Buy” rating. Cowen & Co maintained shares with a”Market Perform” rating and a $35 target share price in their report from an October 21. FBR Capital maintained YHOO stock in a recent report from December 9 with a “Outperform” rating. RBC Capital Markets maintained the rating on October 21. RBC Capital Markets has a “Sector Perform” rating and a $42 price target on shares. Finally, Oppenheimer maintained the stock with a “Outperform” rating in a report they issued on an October 21.
The institutional sentiment decreased to 0.8 in Q2 2015. It’s down 0.23, from 1.03 in 2015Q2. The ratio fall, as 113 funds sold all their Yahoo! Inc. shares they owned while 235 reduced their positions. 60 funds bought stakes while 220 increased their total positions. Institutions now own 619.16 million shares which is 2.60% less than the previous share count of 635.68 million in 2015Q2.
Stonehill Capital Management Llc holds 60.89% of its total portfolio in Yahoo! Inc., equating to 5.71 million shares. Zenit Asset Management Ab owns 4.42 million shares representing 22.25% of their total US portfolio. Moreover, Indaba Capital Management L.P. has 21.81% of their total portfolio invested in the company, equating to 2.31 million shares. The United Kingdom-based Davide Leone & Partners Investment Co Llp has a total of 17.99% of their portfolio invested in the stock. Owl Creek Asset Management L.P., a New York-based fund reported 9.97 million shares owned.
Yahoo! Inc. is a technology company