Yelp (YELP) Downgraded by Zacks Investment Research
Yelp (NYSE:YELP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “
Several other analysts have also commented on YELP. B. Riley reiterated a “neutral” rating and issued a $36.00 price target on shares of Yelp in a research report on Friday, August 4th. ValuEngine lowered shares of Yelp from a “hold” rating to a “sell” rating in a research report on Friday. Cowen reiterated a “market perform” rating and issued a $38.00 price target (up from $33.00) on shares of Yelp in a research report on Wednesday, August 9th. Robert W. Baird reiterated a “neutral” rating and issued a $37.00 price target (up from $26.00) on shares of Yelp in a research report on Thursday, August 10th. Finally, Citigroup increased their price target on shares of Yelp from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.28.
Yelp (NYSE:YELP) last released its quarterly earnings results on Wednesday, November 1st. The local business review company reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.30. The business had revenue of $222.40 million for the quarter, compared to analyst estimates of $220.75 million. Yelp had a net margin of 2.31% and a return on equity of 2.20%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. research analysts expect that Yelp will post 0.17 EPS for the current fiscal year.
In other Yelp news, insider Laurence Wilson sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $44.08, for a total transaction of $1,102,000.00. Following the transaction, the insider now owns 195,610 shares of the company’s stock, valued at $8,622,488.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $47.49, for a total transaction of $617,370.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,956 shares of company stock worth $14,722,108. 10.10% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Strs Ohio purchased a new position in Yelp during the second quarter worth approximately $108,000. Russell Investments Group Ltd. raised its stake in shares of Yelp by 98.8% in the 2nd 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 during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Yelp by 28,585.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock valued at $174,000 after acquiring an additional 4,002 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Yelp in the 3rd quarter valued at $204,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Yelp in the 2nd quarter valued at $205,000. 85.75% of the stock is currently owned by institutional investors.
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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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