NEW YORK (TheStreet) -- Yahoo!'s (YHOO) best days are ahead of it; that is, if you believe CEO Marissa Mayer.

At its annual shareholder meeting Wednesday, Mayer said the company's future is bright. "We think the best years for the company are still ahead of us," Mayer said in response to a question on whether one should keep owning shares.

The Sunnyvale, Calif.-based Yahoo! has been in a down slope since the start of the year, with shares losing nearly 20% of their value. For comparison, other advertising-centric companies such as Google (GOOGL) (GOOG) and Facebook (FB) have seen their shares appreciate by 5.2% and 13.8%, respectively.

Mayer, who has been at Yahoo! for almost three years, has had a tough time turning around the core business.

Its 2014 year-over-year revenue, excluding traffic acquisition costs, fell 1% to $4.4 billion. Shares have been buoyed by the company's 25% stake in Alibaba (BABA), which Mayer has previously said the company will spin off to shareholders tax-free prior to the end of the year. At the meeting, Mayer said the spinoff remains on track to occur in the fourth quarter of this year.

In addition to the stake in Alibaba, Yahoo! also owns a stake in Yahoo! Japan, which has been talked about as a potential spinoff to shareholders as well. But Yahoo! has noted in the past it has "retained advisers to determine the most promising opportunities to maximize value and it is currently a key priority to explore those options thoroughly."

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