Stock Update: Yahoo! Inc. (NASDAQ:YHOO) – Yahoo looking to slash 10 percent or more of its workforce: Business Insider

[Reuters] – “We are not confirming this rumor or commenting further”, Sarah Meron, a spokeswoman for Yahoo told Reuters on Thursday in an e-mail. This move follows activist investor Starboard Value LP’s letter to Yahoo on Wednesday ramping up pressure on Yahoo, taking aim at Chief Executive Officer Marissa Mayer and her leadership team and raising the prospect that a proxy battle is approaching. Starboard implied that Mayer and her officers needed to go, without naming her specifically. Read more on this. Yahoo! Inc. (YHOO) , currently valued at $29.22B, started the session at $30.97. Shares have traded today between $30.25 and $31.19 per share and has traded between $27.20 and $50.41 over the past 12 months. YHOO shares are currently priced at 54.51x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.71x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 37 sell-side analysts are looking at $0.13 per share, which would be $0.17 worse than the year-ago quarter and a $0.07 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $0.59 is a $0.98 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.19 Billion. If reported, that would be a 0.85% increase over the year-ago quarter. In terms of ratings, Mizuho downgraded YHOO from Buy to Neutral (Oct 21, 2015). Previously, Bernstein upgraded YHOO from Mkt Perform to Outperform. With the above information in mind, readers should note that the average price target is $42.72, which is 37.94% above where the stock opened this morning. See more in (NASDAQ:YHOO) Similar Articles: Stock Update: Yahoo! Inc. (NASDAQ:YHOO) – What to Expect When Yahoo! (YHOO) Reports Earnings Today Stock Update: Yahoo! Inc. (NASDAQ:YHOO) – Yahoo!, Inc. (Nasdaq: YHOO) to Ring The Nasdaq Stock Market Opening Bell Company Update: Yahoo! Inc. (NASDAQ:YHOO) – Yahoo! (YHOO) Stock Bounces Back on Analyst Upgrade