Yelp (NYSE:YELP) Stock Moved Up to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Yelp (NYSE:YELP – Free Report) from a hold rating to a strong-buy rating in a research report report published on Tuesday,Zacks reports.

YELP has been the topic of several other research reports. JPMorgan Chase & Co. began coverage on Yelp in a research note on Friday, September 11th. They issued an “underweight” rating and a $19.00 price target on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Yelp in a research report on Friday, August 7th. Finally, Morgan Stanley reduced their price objective on shares of Yelp from $24.00 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Yelp currently has a consensus rating of “Hold” and a consensus target price of $25.57.

Check Out Our Latest Stock Analysis on YELP

Yelp Stock Performance

Yelp stock opened at $18.41 on Tuesday. The firm has a 50 day simple moving average of $20.32 and a 200-day simple moving average of $23.84. Yelp has a 1-year low of $17.26 and a 1-year high of $34.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $998.78 million, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.45.

Yelp (NYSE:YELP – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The local business review company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.36 by $0.21. Yelp had a net margin of 8.59% and a return on equity of 19.52%. The firm had revenue of $375.52 million for the quarter, compared to analyst estimates of $366.89 million. During the same quarter in the previous year, the company earned $0.67 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts expect that Yelp will post 1.86 EPS for the current year.

Insider Activity at Yelp

In other Yelp news, CFO David Schwarzbach sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $20.00, for a total value of $150,000.00. Following the sale, the chief financial officer owned 165,466 shares of the company’s stock, valued at $3,309,320. The trade was a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Alexander Coleman Levy sold 3,829 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $23.40, for a total value of $89,598.60. Following the completion of the sale, the chief technology officer directly owned 54,124 shares in the company, valued at approximately $1,266,501.60. The trade was a 6.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,638 shares of company stock valued at $614,249 in the last quarter. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Yelp

A number of institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in shares of Yelp by 71.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company’s stock valued at $35,000 after acquiring an additional 482 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Yelp during the 2nd quarter worth $61,000. Essential Partners LLC grew its stake in Yelp by 225.9% during the 1st quarter. Essential Partners LLC now owns 2,796 shares of the local business review company’s stock worth $69,000 after purchasing an additional 1,938 shares in the last quarter. Parallel Advisors LLC grew its stake in Yelp by 428.4% during the 1st quarter. Parallel Advisors LLC now owns 3,720 shares of the local business review company’s stock worth $92,000 after purchasing an additional 3,016 shares in the last quarter. Finally, Nykredit A S purchased a new stake in Yelp during the 2nd quarter worth about $128,000. 90.11% of the stock is owned by institutional investors and hedge funds.

About Yelp

(Get Free Report)

Yelp Inc operates an online platform that helps consumers discover and evaluate local businesses. Through its website and mobile applications, Yelp provides business listings, user-generated reviews, ratings, photos and other information across categories such as restaurants, home services, beauty and fitness, automotive, health and professional services.

The company generates revenue primarily by providing businesses with advertising and marketing solutions designed to increase their visibility and connect them with potential customers.

Further Reading

Analyst Recommendations for Yelp (NYSE:YELP)

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