LINE Corporation (LN) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of LINE Corporation (NYSE:LN) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $39.00 target price on the technology company’s stock.
According to Zacks, “LINE Corporation develops and operates the LINE application for smartphones. It offers messenger services which include free messages, voice calls and video calls. The company also provides communication and content sales and advertising services through LINE advertising, livedoor blog, and NAVER Matome Web portals. LINE Corporation is based in Tokyo, Japan. “
LN has been the topic of several other research reports. Nomura raised shares of LINE Corporation from a neutral rating to a buy rating in a research note on Wednesday, May 31st. ValuEngine cut shares of LINE Corporation from a hold rating to a sell rating in a research note on Friday, July 14th. Finally, Instinet raised shares of LINE Corporation from a neutral rating to a buy rating in a research note on Wednesday, May 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $39.00.
Shares of LINE Corporation (LN) opened at 36.20 on Wednesday. LINE Corporation has a 12-month low of $30.90 and a 12-month high of $51.48. The stock has a market cap of $7.98 billion, a P/E ratio of 63.84 and a beta of 0.40. The company’s 50-day moving average is $35.26 and its 200-day moving average is $35.26.
Several large investors have recently bought and sold shares of the company. Carmignac Gestion boosted its position in shares of LINE Corporation by 42.2% during the 2nd quarter. Carmignac Gestion now owns 1,376,724 shares of the technology company’s stock valued at $47,882,000 after purchasing an additional 408,617 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of LINE Corporation during the 2nd quarter valued at about $27,321,000. Tybourne Capital Management HK Ltd. bought a new position in shares of LINE Corporation during the 1st quarter valued at about $22,900,000. ANTIPODES PARTNERS Ltd boosted its position in shares of LINE Corporation by 32.7% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 361,234 shares of the technology company’s stock valued at $12,564,000 after purchasing an additional 89,000 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of LINE Corporation during the 1st quarter valued at about $12,905,000. Institutional investors own 3.71% of the company’s stock.
LINE Corporation Company Profile
LINE Corporation is a Japan-based company mainly engaged in the operation of LINE business portal business. Its LINE business portal segment includes communication and content service and advertising service. Communication and content service provides communication, contents and other services, such as LINE Pay, LINE FRIENDS and LINE Mobile.
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