Zacks Investment Research Upgrades Rakuten Inc (NASDAQ:RKUNY) to Buy
Rakuten Inc (NASDAQ:RKUNY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, June 17th. The brokerage presently has a $14.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 18.54% from the stock’s current price.
According to Zacks, “Rakuten, Inc. engages in the internet services business. Its operating segments consist of Internet Services, FinTech and Others. Internet Services segment manages e-commerce, online cash-back, travel booking, and portal and digital content sites. FinTech segment provides services over the internet related to banking and securities, credit cards, life insurance and electronic money. Others segment includes the provision of messaging and communication services and management of a Japanese professional baseball team. Rakuten, Inc. is headquartered in Tokyo, Japan. “
Rakuten Inc (NASDAQ RKUNY) traded up 1.20% during mid-day trading on Friday, hitting $11.81. 3,248 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $12.09 and a 200 day moving average of $10.56. The stock has a market capitalization of $16.93 billion and a P/E ratio of 37.02. Rakuten Inc has a 52 week low of $9.19 and a 52 week high of $13.97.
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