Notable Downgrades: Yahoo (YHOO), Check Point Software (CHKP), Michael Kors (KORS), Workday, Inc. (WDAY)

Analysts at Evercore ISI downgraded Yahoo! Inc. (YHOO)  from ‘Buy‘ to ‘Hold‘ in a research report issued to clients on Wednesday.

On valuation measures, Yahoo! Inc. stock it’s trading at a forward P/E multiple of 54.59x, and at a multiple of 5.90x this year’s estimated earnings. The t-12-month revenue at Yahoo! Inc. is $4.71 billion. YHOO ‘s ROE for the same period is 31.03%.

Shares of the $40.54 billion market cap company are up 22.36% year-over-year ; down 15.17% year-to-date.

Yahoo! Inc., currently with a median Wall Street price target of $54.00 and a high target of $68.00, rose $0.35 to $43.20 in recent trading.

The chart below shows where the equity has traded over the past 52-weeks.

Check Point Software Technologies Ltd. (CHKP) was downgraded from ‘Equal-Weight‘ to ‘Underweight‘ at Morgan Stanley (MS).

Shares have traded today between $82.23 and $84.49 with the price of the stock fluctuating between $63.70 to $88.49 over the last 52 weeks.

Shares of CHKP have lost $2.37 to $83.41 in mid-day trading on Wednesday, giving it a market cap of roughly $15 billion. The stock traded as high as $88.49 in May 15, 2015.

JP Morgan (JPM) reported on Wednesday that they have lowered their rating for Michael Kors Holdings Limited (KORS). The firm has downgraded KORS from ‘Overweight‘ to ‘Neutral‘.

Michael Kors Holdings Ltd. recently traded at $46.15, a loss of $14.44, or 23.82%, over Tuesday’s closing price. The name has a current market capitalization of $9.26 billion.

Workday, Inc. (WDAY) was reiterated as ‘Overweight’ and the price target was decreased to $100 from $102 at Barclays.

Right now, the stock is sitting at $82.67, a 10.62% intraday loss. The name is 13.33% higher year-to-date, compared with an 10.18% gain in the S&P 500.

WDAY closed Tuesday at $92.49. The company has a total market cap of 15.66 billion.

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