FY2018 EPS Estimates for Yelp Inc Lifted by Analyst (YELP)
Yelp Inc (NYSE:YELP) – Research analysts at Wedbush raised their FY2018 earnings per share estimates for Yelp in a research report issued to clients and investors on Thursday. Wedbush analyst A. Turner now expects that the local business review company will earn $0.34 per share for the year, up from their prior forecast of $0.27. Wedbush also issued estimates for Yelp’s FY2019 earnings at $0.67 EPS.
A number of other research analysts have also recently commented on YELP. Zacks Investment Research cut Yelp from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. SunTrust Banks set a $51.00 price objective on Yelp and gave the company a “buy” rating in a report on Friday, October 27th. KeyCorp reiterated a “buy” rating and issued a $54.00 price objective on shares of Yelp in a report on Tuesday, October 17th. Needham & Company LLC reiterated a “buy” rating and issued a $49.00 price objective on shares of Yelp in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Yelp from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, December 18th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $43.46.
In other news, CEO Jeremy Stoppelman sold 13,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $45.40, for a total transaction of $590,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $43.52, for a total value of $261,120.00. Following the sale, the director now directly owns 9,590 shares in the company, valued at approximately $417,356.80. The disclosure for this sale can be found here. In the last three months, insiders sold 257,085 shares of company stock worth $11,338,738. 10.10% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. purchased a new stake in shares of Yelp during the fourth quarter worth $253,000. American International Group Inc. increased its position in shares of Yelp by 3.4% during the fourth quarter. American International Group Inc. now owns 53,842 shares of the local business review company’s stock worth $2,259,000 after acquiring an additional 1,747 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Yelp by 7.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 55,469 shares of the local business review company’s stock worth $2,327,000 after acquiring an additional 3,654 shares during the period. BlackRock Inc. increased its position in shares of Yelp by 10.4% during the fourth quarter. BlackRock Inc. now owns 5,533,628 shares of the local business review company’s stock worth $232,190,000 after acquiring an additional 521,218 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Yelp by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 327,492 shares of the local business review company’s stock worth $13,741,000 after acquiring an additional 10,892 shares during the period. 86.09% 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 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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