Yelp Inc. (YELP) Lowered to “Hold” at Vetr Inc.
Other equities research analysts have also issued reports about the company. Macquarie upped their price objective on Yelp from $39.00 to $46.00 and gave the company an outperform rating in a research note on Wednesday, September 7th. Cantor Fitzgerald reiterated a buy rating on shares of Yelp in a research note on Friday, August 19th. MKM Partners reiterated a buy rating and issued a $48.00 price objective (up from $40.00) on shares of Yelp in a research note on Thursday, August 25th. Needham & Company LLC restated a buy rating and set a $34.00 price target (up from $28.00) on shares of Yelp in a research report on Thursday, June 23rd. Finally, Mizuho increased their price target on Yelp from $40.00 to $42.00 and gave the stock a buy rating in a research report on Wednesday, September 14th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nineteen have given a buy rating to the company. Yelp presently has an average rating of Hold and a consensus target price of $35.61.
Shares of Yelp (NYSE:YELP) opened at 41.67 on Tuesday. Yelp has a 52 week low of $14.53 and a 52 week high of $41.77. The firm’s 50-day moving average price is $37.95 and its 200-day moving average price is $28.54. The firm’s market cap is $3.22 billion.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.08. The firm 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%. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. Equities research analysts expect that Yelp will post ($0.19) EPS for the current fiscal year.
In other Yelp news, SVP Laurence Wilson sold 36,650 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $40.16, for a total transaction of $1,471,864.00. Following the sale, the senior vice president now owns 117,718 shares of the company’s stock, valued at $4,727,554.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeremy Stoppelman sold 263,000 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $40.00, for a total transaction of $10,520,000.00. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of YELP. IBM Retirement Fund bought a new stake in Yelp during the second quarter worth $209,000. Fisher Asset Management LLC boosted its stake in 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 worth $11,670,000 after buying an additional 10,486 shares during the last quarter. Royal Bank of Canada boosted its stake in Yelp by 0.6% in the first quarter. Royal Bank of Canada now owns 651,922 shares of the local business review company’s stock worth $12,960,000 after buying an additional 3,570 shares during the last quarter. Sterling Ridge Capital Management LP bought a new stake in Yelp during the first quarter worth $431,000. Finally, Orbis Allan Gray Ltd bought a new stake in Yelp during the first quarter worth $7,734,000. 74.90% of the stock is currently owned by hedge funds and other 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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