Yelp Inc. (YELP) Lifted to “Strong-Buy” at Vetr Inc.
Yelp Inc. (NYSE:YELP) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The firm currently has a $43.15 target price on the local business review company’s stock. Vetr‘s price target indicates a potential upside of 18.22% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. MKM Partners upgraded shares of Yelp from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, June 30th. Jefferies Group restated a “buy” rating and set a $28.00 price objective on shares of Yelp in a report on Monday, June 27th. Needham & Company LLC restated a “buy” rating and set a $34.00 price objective (up previously from $28.00) on shares of Yelp in a report on Thursday, June 23rd. Deutsche Bank AG upgraded shares of Yelp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $26.00 to $33.00 in a report on Monday, June 20th. Finally, Zacks Investment Research upgraded shares of Yelp from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, July 12th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $36.03.
Shares of Yelp (NYSE:YELP) opened at 36.50 on Monday. The company’s market cap is $2.82 billion. Yelp has a 12-month low of $14.53 and a 12-month high of $43.36. The stock’s 50 day moving average price is $39.18 and its 200-day moving average price is $30.23.
Yelp (NYSE:YELP) last announced its earnings results on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.08. The firm had revenue of $173.40 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. On average, equities research analysts forecast that Yelp will post ($0.19) earnings per share for the current year.
In other news, COO Joseph R. Nachman sold 20,288 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $42.99, for a total transaction of $872,181.12. Following the completion of the sale, the chief operating officer now owns 137,311 shares in the company, valued at approximately $5,902,999.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $30.61, for a total transaction of $183,660.00. Following the sale, the chief operating officer now owns 6,000 shares of the company’s stock, valued at approximately $183,660. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in Yelp during the second quarter worth about $112,000. Legal & General Group Plc raised its position in Yelp by 62.0% in the second quarter. Legal & General Group Plc now owns 5,742 shares of the local business review company’s stock worth $174,000 after buying an additional 2,197 shares in the last quarter. IBM Retirement Fund acquired a new position in Yelp during the second quarter worth approximately $209,000. Private Advisor Group LLC acquired a new position in Yelp during the second quarter worth approximately $231,000. Finally, Concourse Capital Management LLC acquired a new position in Yelp during the second quarter worth approximately $278,000. Institutional investors own 74.90% of the company’s stock.
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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