Maxim Group Increases Yelp Inc. (YELP) Price Target to $45.00
Yelp Inc. (NYSE:YELP) had its price target upped by equities researchers at Maxim Group from $42.00 to $45.00 in a research note issued to investors on Monday. The brokerage presently has a “buy” rating on the local business review company’s stock. Maxim Group’s price objective indicates a potential upside of 7.99% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. Vetr cut Yelp from a “strong-buy” rating to a “buy” rating and set a $42.56 target price for the company. in a report on Monday, September 19th. Mizuho increased their target price on Yelp from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Morgan Stanley restated an “equal weight” rating and set a $34.00 target price (up from $29.00) on shares of Yelp in a report on Monday, September 12th. Macquarie increased their target price on Yelp from $39.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, September 7th. Finally, Jefferies Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Yelp in a report on Tuesday, September 6th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $35.61.
Shares of Yelp (NYSE:YELP) opened at 41.67 on Monday. The stock’s 50 day moving average price is $37.95 and its 200 day moving average price is $28.54. The company’s market cap is $3.22 billion. Yelp has a 12-month low of $14.53 and a 12-month high of $41.77.
Yelp (NYSE:YELP) last issued its earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.08. The company earned $173.40 million during the quarter, compared to analysts’ expectations of $169.82 million. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. Yelp’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS. On average, analysts forecast that Yelp will post ($0.19) EPS for the current year.
In other Yelp news, COO Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $29.07, for a total transaction of $174,420.00. Following the sale, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $174,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeremy Stoppelman sold 263,000 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $40.00, for a total value of $10,520,000.00. The disclosure for this sale can be found here. 11.08% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. UBS Group AG boosted its stake in shares of Yelp by 107.1% in the first quarter. UBS Group AG now owns 31,436 shares of the local business review company’s stock valued at $625,000 after buying an additional 474,072 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Yelp by 2.8% in the second quarter. Fisher Asset Management LLC now owns 391,351 shares of the local business review company’s stock valued at $11,670,000 after buying an additional 10,486 shares during the last quarter. Geduld E E bought a new stake in shares of Yelp during the second quarter valued at $304,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Yelp during the first quarter valued at $364,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Yelp during the first quarter valued at $475,000. 74.90% of the stock is currently owned by institutional investors.
Yelp Company Profile
Yelp Inc (Yelp) connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.
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