Yelp Inc. (YELP) Cut to “Hold” at Zacks Investment Research
Yelp Inc. (NYSE:YELP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Other analysts have also issued research reports about the stock. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Yelp in a research report on Saturday, July 9th. B. Riley reaffirmed a “neutral” rating and set a $27.00 price target on shares of Yelp in a research report on Wednesday, August 10th. Wedbush lifted their price target on shares of Yelp from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, August 10th. Morgan Stanley lifted their price target on shares of Yelp from $19.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 9th. Finally, Barclays PLC lifted their price target on shares of Yelp from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 10th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $36.03.
Shares of Yelp (NYSE:YELP) traded down 0.15% during midday trading on Wednesday, reaching $39.41. The company’s stock had a trading volume of 198,630 shares. The firm’s market cap is $3.05 billion. Yelp has a one year low of $14.53 and a one year high of $43.36. The stock’s 50 day moving average price is $39.15 and its 200 day moving average price is $29.99.
Yelp (NYSE:YELP) last released its quarterly earnings results on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The firm had revenue of $173.40 million for the quarter, compared to analyst estimates of $169.82 million. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. Analysts predict that Yelp will post ($0.19) earnings per share for the current year.
In other news, COO Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $28.99, for a total value of $173,940.00. Following the transaction, the chief operating officer now owns 6,000 shares of the company’s stock, valued at approximately $173,940. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Laurence Wilson sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $42.22, for a total transaction of $949,950.00. Following the completion of the transaction, the senior vice president now directly owns 183,951 shares in the company, valued at approximately $7,766,411.22. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company’s stock.
Several institutional investors have recently modified their holdings of YELP. Marshall Wace LLP increased its position in shares of Yelp by 7,215.4% in the second quarter. Marshall Wace LLP now owns 1,580,204 shares of the local business review company’s stock worth $47,975,000 after buying an additional 1,558,603 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Yelp by 1,840.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 526,360 shares of the local business review company’s stock valued at $15,980,000 after buying an additional 499,239 shares during the period. UBS Group AG increased its stake in 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 period. Orbis Allan Gray Ltd purchased a new stake in Yelp during the first quarter valued at about $7,734,000. Finally, Tairen Capital Ltd purchased a new stake in Yelp during the second quarter valued at about $9,293,000. 74.90% of the stock is currently owned by institutional investors and hedge funds.
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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