Vetr downgraded shares of Yelp Inc. (NYSE:YELP) from a strong-buy rating to a buy rating in a research report released on Monday morning. Vetr currently has $42.56 price objective on the local business review company’s stock.
Several other brokerages have also recently commented on YELP. Needham & Company LLC boosted their target price on Yelp from $34.00 to $42.00 and gave the stock a buy rating in a report on Wednesday, August 10th. Jefferies Group reissued a buy rating on shares of Yelp in a report on Monday, July 11th. Raymond James Financial Inc. raised Yelp from a market perform rating to an outperform rating and set a $45.00 target price on the stock in a report on Wednesday, August 10th. Cantor Fitzgerald reissued a buy rating and set a $38.00 target price on shares of Yelp in a report on Sunday, June 5th. Finally, Robert W. Baird reissued a buy rating and set a $35.00 target price (up previously from $25.00) on shares of Yelp in a report on Thursday, August 11th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $34.98.
Shares of Yelp (NYSE:YELP) opened at 38.46 on Monday. Yelp has a 12-month low of $14.53 and a 12-month high of $39.96. The stock’s 50 day moving average price is $37.25 and its 200 day moving average price is $28.01. The firm’s market cap is $2.97 billion.
Yelp (NYSE:YELP) last issued its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The business earned $173.40 million during the quarter, compared to the consensus estimate of $169.82 million. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The business’s revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, equities research analysts predict that Yelp will post ($0.19) EPS for the current fiscal year.
In other Yelp news, SVP Michael Stoppelman sold 5,000 shares of Yelp stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $38.19, for a total value of $190,950.00. Following the completion of the sale, the senior vice president now owns 131,948 shares in the company, valued at approximately $5,039,094.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $28.32, for a total transaction of $169,920.00. Following the completion of the sale, the chief operating officer now owns 6,000 shares of the company’s stock, valued at approximately $169,920. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its stake in shares of Yelp by 0.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 17,632 shares of the local business review company’s stock valued at $535,000 after buying an additional 101 shares during the period. BlackRock Group LTD boosted its stake in shares of Yelp by 0.4% in the first quarter. BlackRock Group LTD now owns 179,547 shares of the local business review company’s stock valued at $3,569,000 after buying an additional 654 shares during the period. Utah Retirement Systems boosted its stake in shares of Yelp by 6.9% in the second quarter. Utah Retirement Systems now owns 12,400 shares of the local business review company’s stock valued at $376,000 after buying an additional 800 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Yelp by 5.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 18,587 shares of the local business review company’s stock valued at $564,000 after buying an additional 962 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of Yelp by 16.9% in the second quarter. Teacher Retirement System of Texas now owns 9,459 shares of the local business review company’s stock valued at $287,000 after buying an additional 1,367 shares during the period. Institutional investors and hedge funds own 74.90% of the company’s stock.
Yelp Company Profile
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 provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.
To view Vetr’s full report, visit Vetr’s official website.
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