Shares of Yelp Inc. (NYSE:YELP) have earned a consensus recommendation of “Hold” from the thirty-eight research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and eighteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $38.04.
YELP has been the subject of a number of research analyst reports. Vetr downgraded shares of Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 price objective for the company. in a research note on Thursday, April 20th. Wells Fargo & Company raised shares of Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 price objective for the company in a research note on Friday, May 5th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $37.00 price objective (down previously from $47.00) on shares of Yelp in a research note on Wednesday, May 10th. Credit Suisse Group set a $40.00 target price on shares of Yelp and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, BidaskClub downgraded shares of Yelp from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd.
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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 value of $520,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Geoffrey L. Donaker sold 4,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $28.90, for a total value of $115,600.00. Following the completion of the sale, the director now directly owns 9,590 shares in the company, valued at $277,151. The disclosure for this sale can be found here. Insiders sold 119,751 shares of company stock worth $4,261,130 over the last ninety days. 10.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of YELP. Dimensional Fund Advisors LP raised its position in shares of Yelp by 14.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 97,695 shares of the local business review company’s stock worth $3,725,000 after buying an additional 12,259 shares during the period. Teachers Advisors LLC raised its position in shares of Yelp by 48.2% in the fourth quarter. Teachers Advisors LLC now owns 423,099 shares of the local business review company’s stock worth $16,133,000 after buying an additional 137,513 shares during the period. Palisade Capital Management LLC NJ acquired a new position in shares of Yelp during the first quarter worth approximately $267,000. Nationwide Fund Advisors acquired a new position in shares of Yelp during the first quarter worth approximately $4,608,000. Finally, Independent Portfolio Consultants Inc. acquired a new position in shares of Yelp during the first quarter worth approximately $159,000. 94.79% of the stock is currently owned by institutional investors.
Shares of Yelp (YELP) opened at 42.03 on Friday. The firm’s 50 day moving average is $33.08 and its 200-day moving average is $33.42. Yelp has a 12 month low of $26.93 and a 12 month high of $43.41. The firm has a market capitalization of $3.44 billion, a PE ratio of 261.06 and a beta of 1.48.
Yelp (NYSE:YELP) last posted its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating 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 company had revenue of $209.90 million during the quarter, compared to the consensus estimate of $204.89 million. During the same quarter in the prior year, the company posted $0.16 EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, analysts expect that Yelp will post $0.07 EPS for the current fiscal year.
Yelp announced that its Board of Directors has authorized a stock buyback program on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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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