Zacks: Analysts Expect Yelp Inc. (YELP) Will Announce Quarterly Sales of $220.49 Million
Analysts predict that Yelp Inc. (NYSE:YELP) will post sales of $220.49 million for the current quarter, according to Zacks. Fourteen analysts have issued estimates for Yelp’s earnings. The highest sales estimate is $223.90 million and the lowest is $218.27 million. Yelp posted sales of $186.23 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.4%. The firm is expected to report its next earnings report on Wednesday, November 1st.
On average, analysts expect that Yelp will report full-year sales of $220.49 million for the current fiscal year, with estimates ranging from $854.47 million to $865.89 million. For the next year, analysts anticipate that the company will post sales of $1.01 billion per share, with estimates ranging from $958.26 million to $1.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Yelp.
Yelp (NYSE:YELP) last released its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The company had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. During the same quarter in the previous year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 21.0% on a year-over-year basis.
A number of research analysts have recently issued reports on the company. B. Riley reissued a “neutral” rating and issued a $25.00 price objective on shares of Yelp in a research note on Wednesday, May 10th. Royal Bank Of Canada dropped their price objective on Yelp from $46.00 to $29.00 and set a “market perform” rating on the stock in a research note on Thursday, May 11th. Barclays PLC reissued an “equal weight” rating and issued a $36.00 price objective (up from $28.00) on shares of Yelp in a research note on Friday, August 4th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $22.00 price objective (down from $35.00) on shares of Yelp in a research note on Friday, May 12th. Finally, Zacks Investment Research raised Yelp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $38.13.
Yelp (NYSE:YELP) opened at 42.14 on Friday. Yelp has a 1-year low of $26.93 and a 1-year high of $43.41. The stock has a market cap of $3.45 billion, a PE ratio of 266.71 and a beta of 1.48. The firm’s 50-day moving average price is $36.29 and its 200 day moving average price is $33.38.
Yelp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 3rd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the local business review company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.00, for a total transaction of $520,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Charles Baker sold 3,921 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total value of $162,525.45. Following the sale, the chief financial officer now owns 112,941 shares in the company, valued at approximately $4,681,404.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,240 shares of company stock valued at $5,931,159. 10.10% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of YELP. BlackRock Inc. increased its stake in Yelp by 3,803.3% in the first quarter. BlackRock Inc. now owns 2,829,444 shares of the local business review company’s stock valued at $92,666,000 after buying an additional 2,756,955 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Yelp by 1,088.8% in the first quarter. Point72 Asset Management L.P. now owns 2,661,644 shares of the local business review company’s stock valued at $87,169,000 after buying an additional 2,437,744 shares in the last quarter. Southpoint Capital Advisors LP bought a new stake in Yelp during the second quarter valued at about $66,044,000. Fisher Asset Management LLC increased its stake in Yelp by 658.2% in the second quarter. Fisher Asset Management LLC now owns 2,459,293 shares of the local business review company’s stock valued at $73,828,000 after buying an additional 2,134,942 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Yelp by 794.9% in the second quarter. First Trust Advisors LP now owns 1,930,508 shares of the local business review company’s stock valued at $57,954,000 after buying an additional 1,714,785 shares in the last quarter. Hedge funds and other institutional investors own 95.37% 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 offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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