Yelp Inc. (YELP) Given Outperform Rating at Credit Suisse Group
Credit Suisse Group restated their outperform rating on shares of Yelp Inc. (NYSE:YELP) in a report issued on Wednesday morning. The brokerage currently has a $48.00 target price on the local business review company’s stock, up from their previous target price of $40.00.
Several other equities analysts also recently commented on YELP. B. Riley reissued a neutral rating and issued a $36.00 target price on shares of Yelp in a report on Friday, August 4th. Cowen and Company reissued a market perform rating and issued a $38.00 target price (up previously from $33.00) on shares of Yelp in a report on Wednesday, August 9th. KeyCorp reissued a buy rating and issued a $54.00 target price on shares of Yelp in a report on Tuesday. Zacks Investment Research raised shares of Yelp from a sell rating to a hold rating and set a $48.00 target price on the stock in a report on Tuesday, August 8th. Finally, Citigroup Inc. boosted their target price on shares of Yelp from $42.00 to $50.00 and gave the stock a buy rating in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $40.81.
Shares of Yelp (NYSE:YELP) traded down 0.22% during trading on Wednesday, hitting $44.48. 539,983 shares of the stock were exchanged. Yelp has a 52-week low of $26.93 and a 52-week high of $46.76. The stock has a market cap of $3.64 billion, a PE ratio of 281.52 and a beta of 1.34. The firm has a 50 day moving average of $43.76 and a 200-day moving average of $35.81.
Yelp (NYSE:YELP) last released its earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, topping the 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 firm had revenue of $209.90 million for the quarter, compared to the consensus estimate of $204.89 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities research analysts anticipate that Yelp will post $0.07 earnings per share for the current fiscal year.
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Yelp announced that its board has approved a stock buyback 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 typically an indication that the company’s board believes its stock is undervalued.
In other Yelp news, Director Geoffrey L. Donaker sold 42,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.00, for a total transaction of $1,680,000.00. Following the completion of the sale, the director now directly owns 47,590 shares of the company’s stock, valued at $1,903,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Laurence Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $42.00, for a total transaction of $420,000.00. Following the sale, the senior vice president now directly owns 191,947 shares of the company’s stock, valued at $8,061,774. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,610 shares of company stock valued at $10,326,010. Insiders own 10.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of Yelp during the second quarter valued at about $108,000. FNY Partners Fund LP increased its holdings in shares of Yelp by 18,650.0% during the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock valued at $122,000 after acquiring an additional 3,730 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Yelp by 98.8% during the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after acquiring an additional 2,033 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Yelp during the first quarter valued at about $163,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Yelp by 11.8% during the first quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock valued at $202,000 after acquiring an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 90.85% 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 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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