Yelp Inc. (YELP) Stock Rating Upgraded by Vetr Inc.
Yelp Inc. (NYSE:YELP) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $43.08 price objective on the local business review company’s stock. Vetr‘s price target would suggest a potential upside of 5.95% from the company’s current price.
A number of other equities analysts have also recently issued reports on YELP. Tigress Financial reissued a “buy” rating on shares of Yelp in a report on Tuesday, June 14th. Deutsche Bank AG raised Yelp from a “hold” rating to a “buy” rating and increased their target price for the stock from $26.00 to $33.00 in a report on Monday, June 20th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 target price (up from $28.00) on shares of Yelp in a report on Thursday, June 23rd. Jefferies Group restated a “buy” rating and set a $28.00 price target on shares of Yelp in a research report on Monday, June 27th. Finally, MKM Partners upgraded Yelp from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Thursday, June 30th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have issued a buy rating to the company. Yelp currently has an average rating of “Hold” and an average price target of $36.03.
Shares of Yelp (NYSE:YELP) opened at 40.66 on Monday. Yelp has a 1-year low of $14.53 and a 1-year high of $43.36. The stock has a 50 day moving average price of $39.03 and a 200-day moving average price of $29.62. The company’s market cap is $3.14 billion.
Yelp (NYSE:YELP) last issued its earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.08. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The business earned $173.40 million during the quarter, compared to analysts’ expectations of $169.82 million. During the same period in the prior year, the firm posted $0.12 EPS. Yelp’s quarterly revenue was up 29.5% compared to the same quarter last year. Analysts predict that Yelp will post ($0.19) earnings per share for the current fiscal year.
In other Yelp news, CEO Jeremy Stoppelman sold 263,000 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $40.00, for a total transaction of $10,520,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Stoppelman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $38.19, for a total transaction of $190,950.00. Following the transaction, the senior vice president now owns 131,948 shares of the company’s stock, valued at $5,039,094.12. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its position 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 increased its position 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 increased its position 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. increased its position 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 position in shares of Yelp during the second quarter valued at approximately $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.
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