Yelp Inc. (NYSE:YELP – Get Free Report)’s stock price traded down 5.6% on Monday . The stock traded as low as $23.36 and last traded at $23.31. Approximately 129,587 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,288,301 shares. The stock had previously closed at $24.70.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on YELP. JPMorgan Chase & Co. increased their price target on shares of Yelp from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Yelp in a report on Friday, August 7th. Morgan Stanley lowered their price objective on Yelp from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Friday, May 15th. Evercore set a $30.00 target price on Yelp in a research note on Monday, May 11th. Finally, Zacks Research upgraded Yelp from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $27.57.
View Our Latest Report on YELP
Yelp Stock Up 1.2%
Yelp (NYSE:YELP – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The local business review company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.36 by $0.21. The firm had revenue of $375.52 million for the quarter, compared to analyst estimates of $366.89 million. Yelp had a net margin of 8.59% and a return on equity of 19.52%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 EPS. As a group, equities research analysts forecast that Yelp Inc. will post 1.84 earnings per share for the current year.
Insider Activity
In related news, Director Christine Barone sold 15,507 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $22.95, for a total transaction of $355,885.65. Following the transaction, the director owned 15,928 shares of the company’s stock, valued at approximately $365,547.60. This represents a 49.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 17,507 shares of company stock valued at $402,481. 8.30% of the stock is currently owned by insiders.
Institutional Trading of Yelp
A number of institutional investors and hedge funds have recently bought and sold shares of YELP. CIBC Private Wealth Group LLC increased its stake in 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 buying an additional 446 shares during the period. Rockefeller Capital Management L.P. boosted its position in Yelp by 71.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company’s stock valued at $35,000 after buying an additional 482 shares during the period. Fifth Third Bancorp boosted its position in Yelp by 70.4% in the 4th quarter. Fifth Third Bancorp now owns 1,159 shares of the local business review company’s stock valued at $35,000 after buying an additional 479 shares during the period. Hantz Financial Services Inc. grew its stake in shares of 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 acquiring an additional 836 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Yelp in the first quarter worth $56,000. 90.11% of the stock is currently owned by hedge funds and other institutional investors.
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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