Yelp Inc. (YELP) Rating Reiterated by B. Riley

Yelp Inc. (NYSE:YELP)‘s stock had its “hold” rating reaffirmed by stock analysts at B. Riley in a note issued to investors on Wednesday. They presently have a $36.00 price target on the local business review company’s stock. B. Riley’s price target points to a potential downside of 17.71% from the company’s previous close.

Several other equities analysts also recently commented on YELP. Cowen and Company reiterated a “market perform” rating and set a $38.00 price target (up from $33.00) on shares of Yelp in a report on Wednesday, August 9th. Citigroup Inc. upped their price target on shares of Yelp from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Yelp from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a report on Tuesday, August 8th. Robert W. Baird restated a “neutral” rating and issued a $37.00 target price (up from $26.00) on shares of Yelp in a research note on Thursday, August 10th. Finally, KeyCorp restated a “buy” rating and issued a $54.00 target price on shares of Yelp in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Yelp has an average rating of “Hold” and a consensus target price of $40.58.

Yelp (NYSE YELP) opened at 43.75 on Wednesday. The company has a market capitalization of $3.58 billion, a PE ratio of 276.90 and a beta of 1.34. The stock’s 50 day moving average price is $43.57 and its 200-day moving average price is $35.46. Yelp has a 52 week low of $26.93 and a 52 week high of $46.76.

Yelp (NYSE:YELP) last announced its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.12. The firm had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. On average, equities research analysts predict that Yelp will post $0.07 earnings per share for the current fiscal year.

Yelp announced that its board has initiated a share repurchase plan 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 plans are generally a sign that the company’s board believes its shares are undervalued.

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In related news, SVP Laurence Wilson sold 10,000 shares of Yelp stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $42.00, for a total value of $420,000.00. Following the completion of the transaction, the senior vice president now owns 191,947 shares in the company, valued at $8,061,774. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph R. Nachman sold 6,500 shares of Yelp stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.28, for a total transaction of $248,820.00. Following the completion of the transaction, the chief operating officer now owns 131,115 shares of the company’s stock, valued at approximately $5,019,082.20. The disclosure for this sale can be found here. Insiders sold a total of 232,610 shares of company stock worth $9,758,430 over the last three months. Insiders own 10.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Dorsey Asset Management LLC acquired a new position in shares of Yelp in the second quarter valued at approximately $22,095,000. First Manhattan Co. acquired a new position in shares of Yelp in the second quarter valued at approximately $11,158,000. Capital Fund Management S.A. grew its holdings in shares of Yelp by 113.2% in the second quarter. Capital Fund Management S.A. now owns 714,639 shares of the local business review company’s stock valued at $21,453,000 after purchasing an additional 379,367 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Yelp by 95.8% in the first quarter. California Public Employees Retirement System now owns 225,800 shares of the local business review company’s stock valued at $8,015,000 after purchasing an additional 110,500 shares in the last quarter. Finally, TB Alternative Assets Ltd. acquired a new position in shares of Yelp in the second quarter valued at approximately $3,050,000. Hedge funds and other institutional investors own 90.85% of the company’s stock.

About Yelp

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.

Analyst Recommendations for Yelp (NYSE:YELP)

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