Yelp Inc. (NYSE:YELP – Get Free Report) has earned an average recommendation of “Reduce” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $27.8750.
A number of equities research analysts recently commented on YELP shares. Evercore set a $30.00 price target on Yelp in a research report on Monday, May 11th. Robert W. Baird set a $28.00 price target on Yelp in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Yelp in a research report on Monday, May 11th. Morgan Stanley decreased their target price on Yelp from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. raised their target price on Yelp from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, May 8th.
View Our Latest Analysis on YELP
Yelp Price Performance
Yelp (NYSE:YELP – Get Free Report) last issued its earnings results on Thursday, May 7th. The local business review company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $361.46 million for the quarter, compared to analyst estimates of $353.47 million. Yelp had a return on equity of 20.19% and a net margin of 9.47%.Yelp’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts forecast that Yelp will post 1.85 EPS for the current fiscal year.
Insider Activity
In other news, insider Craig Saldanha sold 1,200 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $24.72, for a total transaction of $29,664.00. Following the completion of the sale, the insider directly owned 267,835 shares of the company’s stock, valued at $6,620,881.20. This trade represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christine Barone sold 15,507 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $22.95, for a total value of $355,885.65. Following the sale, the director directly owned 15,928 shares of the company’s stock, valued at approximately $365,547.60. This represents a 49.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,707 shares of company stock valued at $819,145 in the last ninety days. 8.30% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew its stake in shares of Yelp by 100.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 892 shares of the local business review company’s stock worth $28,000 after acquiring an additional 446 shares during the period. Fifth Third Bancorp grew its stake in shares of Yelp by 70.4% during the 4th quarter. Fifth Third Bancorp now owns 1,159 shares of the local business review company’s stock worth $35,000 after acquiring an additional 479 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Yelp by 71.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company’s stock worth $35,000 after acquiring an additional 482 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Yelp by 181.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,297 shares of the local business review company’s stock worth $39,000 after acquiring an additional 836 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in shares of Yelp during the 3rd quarter worth $55,000. Institutional investors own 90.11% of the company’s stock.
Yelp Company Profile
Yelp is a digital platform that connects consumers with local businesses through user-generated reviews, ratings and multimedia content. The company’s flagship offerings include the Yelp website and mobile applications for iOS and Android, where users can search for and discover restaurants, shops, service providers and other points of interest. In addition to crowd-sourced reviews and photographs, Yelp provides business profile pages featuring hours, contact information, menus and direct messaging capabilities.
Yelp generates revenue primarily through advertising services sold to small and medium-sized enterprises.
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