Line (LN) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Line (NYSE:LN) from a sell rating to a hold rating in a research note published on Saturday morning.

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 research firms also recently weighed in on LN. CLSA restated a buy rating on shares of Line in a research report on Wednesday, October 3rd. UBS Group upgraded Line from a neutral rating to a buy rating in a research report on Wednesday, July 18th. ValuEngine upgraded Line from a hold rating to a buy rating in a research report on Thursday, June 28th. Finally, JPMorgan Chase & Co. upgraded Line from a neutral rating to an overweight rating in a research report on Thursday, June 21st. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $47.00.

Shares of LN stock opened at $37.52 on Friday. Line has a 12-month low of $35.05 and a 12-month high of $47.81. The company has a market capitalization of $10.05 billion, a P/E ratio of 125.07 and a beta of 1.49.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new stake in Line in the first quarter worth approximately $300,000. Millennium Management LLC acquired a new stake in Line in the first quarter worth approximately $438,000. Bank of Montreal Can lifted its position in Line by 61.0% in the second quarter. Bank of Montreal Can now owns 14,345 shares of the technology company’s stock worth $589,000 after purchasing an additional 5,436 shares during the period. Lenox Wealth Management Inc. lifted its position in Line by 7.5% in the second quarter. Lenox Wealth Management Inc. now owns 17,143 shares of the technology company’s stock worth $704,000 after purchasing an additional 1,199 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Line in the first quarter worth approximately $735,000. Hedge funds and other institutional investors own 3.07% of the company’s stock.

Line Company Profile

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, Indonesia, and Hong Kong. The company offers LINE, a cross-platform messenger application that enable 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.

Recommended Story: Does the discount rate affect the economy?

Get a free copy of the Zacks research report on Line (LN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Line (NYSE:LN)

Receive News & Ratings for Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Line and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply