NEW YORK (TheStreet) -- Yahoo! (YHOO) rose Monday after CFO Ken Goldman said buying back stock was an "attractive" use of the company's cash at the J.P. Morgan Global Technology, Media and Telecom Conference.
Goldman also noted the company is "in the investment mode today." He said Yahoo's search click revenue driven growth has been "quite consistent" and the company is investing "heavily" in search. Goldman also commented the company can do more with mobile and still has some work to do in displays.
Furthermore, Goldman said Yahoo's growth areas include social media, such as Tumblr, and noted the homepage is a "leading indicator" for company. Finally, Goldman said he prefers to keep a cash balance of approximately $3 billion.
The stock was up 1.06% to $33.77 at 1:44 p.m.
Separately, TheStreet Ratings team rates YAHOO INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate YAHOO INC (YHOO) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."