Shares of Yelp Inc. (NYSE:YELP – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $24.81, but opened at $25.94. Yelp shares last traded at $24.1580, with a volume of 164,842 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on YELP. Evercore set a $30.00 price target on shares of Yelp in a research report on Monday, May 11th. Robert W. Baird set a $28.00 price objective on shares of Yelp in a research note on Friday, May 8th. Morgan Stanley cut their target price on shares of Yelp from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Friday, May 15th. Zacks Research raised Yelp from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. raised their price target on Yelp from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $27.88.
Check Out Our Latest Report on Yelp
Yelp Price Performance
Yelp (NYSE:YELP – Get Free Report) last announced its earnings results on Thursday, May 7th. The local business review company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. Yelp had a return on equity of 20.19% and a net margin of 9.47%.The firm had revenue of $361.46 million for the quarter, compared to the consensus estimate of $353.47 million. During the same quarter in the previous year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Yelp Inc. will post 1.85 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Christine Barone sold 15,507 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $22.95, for a total value of $355,885.65. Following the completion of the transaction, the director owned 15,928 shares in the company, valued at $365,547.60. This represents a 49.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,507 shares of company stock valued at $402,481 over the last three months. Corporate insiders own 8.30% of the company’s stock.
Institutional Trading of Yelp
A number of institutional investors have recently made changes to their positions in YELP. CIBC Private Wealth Group LLC boosted its holdings in shares of Yelp by 100.0% in the third quarter. CIBC Private Wealth Group LLC now owns 892 shares of the local business review company’s stock valued at $28,000 after acquiring an additional 446 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Yelp by 71.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company’s stock worth $35,000 after purchasing an additional 482 shares in the last quarter. Fifth Third Bancorp raised its holdings in Yelp by 70.4% during the fourth quarter. Fifth Third Bancorp now owns 1,159 shares of the local business review company’s stock worth $35,000 after purchasing an additional 479 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Yelp by 181.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,297 shares of the local business review company’s stock worth $39,000 after purchasing an additional 836 shares during the period. Finally, Strs Ohio acquired a new stake in Yelp in the first quarter worth approximately $56,000. 90.11% of the stock is owned by institutional investors and hedge funds.
About Yelp
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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