Altaba (AABA) Hits New 52-Week High and Low at $82.37

Shares of Altaba Inc (NASDAQ:AABA) reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $82.37 and last traded at $82.44, with a volume of 767954 shares trading hands. The stock had previously closed at $81.24.

AABA has been the subject of a number of analyst reports. MKM Partners lifted their target price on shares of Altaba to $124.00 in a research note on Friday, May 18th. Oppenheimer boosted their price objective on shares of Altaba from $98.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. UBS Group restated a “buy” rating and issued a $98.00 price objective (up from $92.00) on shares of Altaba in a research note on Thursday, February 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Altaba to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Credit Suisse Group boosted their price objective on shares of Altaba from $76.00 to $88.00 in a research note on Friday, June 8th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.39.

The company has a market capitalization of $70.47 billion, a price-to-earnings ratio of 322.76 and a beta of 1.97.

Institutional investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new position in Altaba during the fourth quarter worth $103,000. Glassman Wealth Services bought a new position in Altaba during the first quarter worth $127,000. Centaurus Financial Inc. bought a new position in Altaba during the fourth quarter worth $208,000. Brighton Jones LLC bought a new position in Altaba during the first quarter worth $208,000. Finally, Lehman Financial Resources Inc. bought a new position in Altaba during the fourth quarter worth $209,000. Institutional investors and hedge funds own 72.79% 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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