Yahoo! Inc. (YHOO)’s Marissa Mayer Is Not Delivering As She Ought To: Larry Haverty

Slight growth on online advertising was not enough to shield CEO, Marissa Mayer, from talk that Yahoo! Inc. (NASDAQ:YHOO) would be better off without her at the helm. Just like in the previous quarters, it was yet another poor showing for the embattled search giant having failed to meet Wall Street estimates both on revenue and profit forecasts. Speaking to CNBC, Gabelli Funds Portfolio Manager, Larry Haverty, reiterated that Mayer is not delivering as she ought to.

Yahoo! Inc. (NASDAQ:YHOO)

Yahoo! Inc. (NASDAQ:YHOO) was spiking in after hours of trading after Mayer articulated a strategy that she believes could help turn around the fortunes of the company, although it closed on the red as the Street remains skeptical. Despite the bashing, the analyst believes the stock remains attractive at the current trading levels and on the ongoing plans to spin off stakes in Alibaba Group Holding Ltd (NYSE:BABA) as well as Yahoo Japan.

“We value the stock in the high fifties right now, and I have to call it a buy. You win if Marissa goes, and there is a corporate event and you win if she turns the company around,” said Mr. Haverty.

The Street remains skeptical about Yahoo! Inc. (NASDAQ:YHOO) long-term prospects even on the ongoing growth in the mobile business. Sentiments about Mayer’s accomplishments remain low at -4 according to Haverty, even as the company moves to focus on mobile, native videos and advertising.

“[..] This MaVeNS strategy- Mobile video, Native advertising; the revenue there has grown nicely but it is a small percentage, and the base business is declining rapidly. So you have a good business and a bad business, and right now the bad business is winning,” said Mr. Haverty.

Investors’ attention shifts to the imminent spin-off Yahoo! Inc. (NASDAQ:YHOO)’s remaining 15% stake in Alibaba Group Holding Ltd (NYSE:BABA), a move they hope will generate more shareholders value. Pressure has been mounting on Yahoo to spin off the stakes in Alibaba as the Chinese e-commerce giant continues to struggle to pick up in the market arousing concerns it is losing a substantial amount of value.

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