Yelp Inc. (YELP) Stock Rating Lowered by Vetr Inc.
Yelp Inc. (NYSE:YELP) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday. They currently have a $41.96 price objective on the local business review company’s stock. Vetr‘s target price indicates a potential upside of 9.58% from the stock’s previous close.
Several other brokerages have also recently weighed in on YELP. Cantor Fitzgerald reissued a “buy” rating and issued a $42.00 price objective on shares of Yelp in a research note on Tuesday, September 27th. B. Riley reissued a “neutral” rating and issued a $36.00 price objective on shares of Yelp in a research note on Thursday, November 3rd. Needham & Company LLC boosted their price objective on shares of Yelp from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Piper Jaffray Cos. reissued a “neutral” rating on shares of Yelp in a research note on Thursday, November 3rd. Finally, Raymond James Financial Inc. raised shares of Yelp from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.00.
Yelp (NYSE:YELP) opened at 38.29 on Thursday. The firm’s 50-day moving average price is $37.41 and its 200-day moving average price is $32.31. Yelp has a 12-month low of $14.53 and a 12-month high of $43.36. The company’s market cap is $3.00 billion.
Yelp (NYSE:YELP) last posted its earnings results on Wednesday, November 2nd. The local business review company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.25. The firm had revenue of $186.20 million for the quarter, compared to analysts’ expectations of $183 million. Yelp had a negative net margin of 5.23% and a negative return on equity of 4.58%. The company’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Equities research analysts forecast that Yelp will post ($0.14) earnings per share for the current fiscal year.
In other Yelp news, COO Joseph R. Nachman sold 20,288 shares of the firm’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $42.99, for a total value of $872,181.12. Following the sale, the chief operating officer now owns 137,311 shares of the company’s stock, valued at approximately $5,902,999.89. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael Stoppelman sold 2,781 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $37.45, for a total transaction of $104,148.45. Following the completion of the sale, the senior vice president now directly owns 131,948 shares in the company, valued at approximately $4,941,452.60. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Marshall Wace LLP raised its stake 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 during the period. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of Yelp during the third quarter worth about $49,619,000. Criterion Capital Management LLC raised its stake in shares of Yelp by 68.0% in the third quarter. Criterion Capital Management LLC now owns 1,817,516 shares of the local business review company’s stock worth $75,790,000 after buying an additional 735,863 shares during the period. NorthCoast Asset Management LLC purchased a new stake in shares of Yelp during the third quarter worth about $22,260,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of 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 worth $15,980,000 after buying an additional 499,239 shares during the period. 77.58% 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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