Yelp Inc. (YELP) Upgraded at BidaskClub
BidaskClub upgraded shares of Yelp Inc. (NYSE:YELP) from a hold rating to a buy rating in a research report released on Friday.
A number of other equities research analysts have also weighed in on YELP. Jefferies Group LLC restated a buy rating and issued a $37.00 price objective on shares of Yelp in a report on Friday, June 23rd. Robert W. Baird restated a neutral rating on shares of Yelp in a report on Monday, July 3rd. Morgan Stanley restated an equal weight rating and issued a $26.00 price objective (down from $28.00) on shares of Yelp in a report on Thursday, July 20th. Roth Capital set a $21.00 price objective on shares of Yelp and gave the stock a sell rating in a report on Monday, July 31st. Finally, B. Riley restated a neutral rating and issued a $36.00 price objective on shares of Yelp in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Yelp presently has a consensus rating of Buy and a consensus target price of $39.78.
Yelp (NYSE YELP) opened at 46.73 on Friday. Yelp has a 52 week low of $26.93 and a 52 week high of $46.76. The company has a 50-day moving average of $43.27 and a 200 day moving average of $35.14. The company has a market cap of $3.82 billion, a P/E ratio of 295.76 and a beta of 1.34.
Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business had revenue of $209.90 million during the quarter, compared to analysts’ expectations of $204.89 million. During the same quarter in the previous year, the company earned $0.16 EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities analysts forecast that Yelp will post $0.07 EPS for the current fiscal year.
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Yelp announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, CFO Charles Baker sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $41.45, for a total value of $162,525.45. Following the completion of the transaction, the chief financial officer now directly owns 112,941 shares of the company’s stock, valued at $4,681,404.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $45.38, for a total transaction of $589,940.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,240 shares of company stock valued at $9,504,099. Insiders own 10.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of YELP. Bank of New York Mellon Corp boosted its stake in Yelp by 4.1% during the first quarter. Bank of New York Mellon Corp now owns 235,974 shares of the local business review company’s stock worth $7,727,000 after buying an additional 9,350 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Yelp by 46.0% during the first quarter. UBS Asset Management Americas Inc. now owns 53,227 shares of the local business review company’s stock worth $1,743,000 after buying an additional 16,766 shares during the period. Karp Capital Management Corp purchased a new position in Yelp during the first quarter worth $290,000. Ameriprise Financial Inc. purchased a new position in Yelp during the first quarter worth $6,218,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Yelp by 74.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,720 shares of the local business review company’s stock worth $351,000 after buying an additional 4,571 shares during the period. 90.85% of the stock is owned by institutional investors.
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 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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