Zacks Investment Research Upgrades Yelp Inc. (YELP) to “Buy”
Yelp Inc. (NYSE:YELP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $47.00 price target on the local business review company’s stock. Zacks Investment Research’s price target points to a potential upside of 11.48% from the stock’s previous close.
According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “
Several other equities research analysts have also commented on the company. Vetr lowered Yelp from a “strong-buy” rating to a “buy” rating and set a $33.45 price target for the company. in a research note on Monday, July 11th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Yelp in a research report on Friday, August 19th. Wells Fargo & Co. downgraded Yelp from a “market perform” rating to an “underperform” rating and upped their target price for the stock from $27.59 to $30.38 in a research report on Wednesday, July 13th. MKM Partners reaffirmed a “buy” rating and issued a $48.00 target price (up previously from $40.00) on shares of Yelp in a research report on Thursday, August 25th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Yelp in a research report on Monday, August 22nd. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $36.02.
Shares of Yelp (NYSE:YELP) traded down 2.32% during trading on Thursday, reaching $41.18. The company had a trading volume of 1,110,184 shares. The firm’s market capitalization is $3.18 billion. Yelp has a 52 week low of $14.53 and a 52 week high of $43.36. The firm has a 50-day moving average of $38.82 and a 200 day moving average of $29.39.
Yelp (NYSE:YELP) last announced its quarterly earnings results on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The company earned $173.40 million during the quarter, compared to analyst estimates of $169.82 million. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The firm’s revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 earnings per share. On average, equities research analysts forecast that Yelp will post ($0.19) earnings per share for the current year.
In related news, COO Joseph R. Nachman sold 2,508 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $37.45, for a total transaction of $93,924.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Stoppelman sold 263,000 shares of the stock in a transaction 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. Insiders own 11.08% of the company’s stock.
Several hedge funds have recently made changes to their positions in YELP. Macquarie Group Ltd. raised its stake in shares of Yelp by 1.6% in the second quarter. Macquarie Group Ltd. now owns 1,450,951 shares of the local business review company’s stock valued at $44,051,000 after buying an additional 22,868 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Yelp by 14.9% in the second quarter. Public Employees Retirement System of Ohio now owns 15,229 shares of the local business review company’s stock valued at $462,000 after buying an additional 1,971 shares in the last quarter. Personal Capital Advisors Corp raised its stake in shares of Yelp by 16.0% in the second quarter. Personal Capital Advisors Corp now owns 420,991 shares of the local business review company’s stock valued at $12,781,000 after buying an additional 58,034 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Yelp by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 111,168 shares of the local business review company’s stock valued at $3,376,000 after buying an additional 3,576 shares in the last quarter. Finally, Pine River Capital Management L.P. purchased a new stake in shares of Yelp during the second quarter valued at about $1,756,000. Institutional investors and hedge funds own 74.90% of the company’s stock.
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.
Receive News & Stock Ratings for Yelp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp Inc. and related stocks with our FREE daily email newsletter.