Zacks Investment Research upgraded shares of Line (NYSE:LN) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

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. “

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group set a $3,500.00 price objective on Line and gave the company a buy rating in a research note on Tuesday, March 26th. Credit Suisse Group lowered Line from a neutral rating to an underperform rating in a research note on Thursday, March 14th. Finally, Evercore ISI initiated coverage on Line in a research note on Monday, February 25th. They set an outperform rating for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $3,500.00.

LN stock opened at $28.32 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.36. Line has a 1 year low of $27.04 and a 1 year high of $46.48.

Line (NYSE:LN) last posted its earnings results on Wednesday, April 24th. The technology company reported ($0.05) earnings per share (EPS) for the quarter. Line had a negative net margin of 1.58% and a negative return on equity of 2.52%. The company had revenue of $455.95 million during the quarter. As a group, analysts predict that Line will post -2.01 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of LN. Bank of Montreal Can grew its position in shares of Line by 2.9% in the 1st quarter. Bank of Montreal Can now owns 12,303 shares of the technology company’s stock worth $433,000 after acquiring an additional 351 shares in the last quarter. Advisor Group Inc. grew its position in shares of Line by 4.9% in the 4th quarter. Advisor Group Inc. now owns 7,979 shares of the technology company’s stock worth $272,000 after acquiring an additional 376 shares in the last quarter. Lenox Wealth Management Inc. grew its position in shares of Line by 2.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 18,881 shares of the technology company’s stock worth $665,000 after acquiring an additional 388 shares in the last quarter. Citigroup Inc. grew its position in shares of Line by 222.4% in the 4th quarter. Citigroup Inc. now owns 1,983 shares of the technology company’s stock worth $68,000 after acquiring an additional 1,368 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of Line by 135.0% in the 1st quarter. Quadrant Capital Group LLC now owns 4,179 shares of the technology company’s stock worth $143,000 after acquiring an additional 2,401 shares in the last quarter. Hedge funds and other institutional investors own 3.32% of the company’s stock.

Line Company Profile

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and life and financial services primarily in Japan, Taiwan, Thailand, and Indonesia. It operates through two segments, Core Business and Strategic Business. The company offers LINE, a cross-platform messenger application that enables users to communicate through free instant messaging, stickers, and voice and video calls, as well as serves as a smart portal to its other applications and services.

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