Yelp Inc. (NYSE:YELP) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $42.74 price target on the local business review company’s stock. Vetr‘s price target would indicate a potential upside of 2.49% from the company’s previous close.
Several other equities research analysts also recently commented on YELP. Macquarie upped their target price on Yelp from $39.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, September 7th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $42.00 target price on shares of Yelp in a report on Tuesday, September 27th. Maxim Group upped their target price on Yelp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, September 26th. Jefferies Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Yelp in a report on Tuesday, September 6th. Finally, B. Riley reaffirmed a “neutral” rating and set a $27.00 target price on shares of Yelp in a report on Monday, August 15th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.61.
Yelp (NYSE:YELP) opened at 41.70 on Monday. The firm’s market capitalization is $3.23 billion. The stock has a 50 day moving average price of $38.46 and a 200 day moving average price of $28.87. Yelp has a 1-year low of $14.53 and a 1-year high of $41.94.
Yelp (NYSE:YELP) last announced its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The business earned $173.40 million during the quarter, compared to analyst estimates of $169.82 million. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The company’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Analysts predict that Yelp will post ($0.19) EPS for the current year.
In related news, Director Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $39.97, for a total transaction of $239,820.00. Following the completion of the sale, the director now directly owns 6,000 shares of the company’s stock, valued at $239,820. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael Stoppelman sold 5,000 shares of Yelp stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $38.19, for a total value of $190,950.00. Following the sale, the senior vice president now directly owns 131,948 shares of the company’s stock, valued at $5,039,094.12. The disclosure for this sale can be found here. 11.08% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Yelp during the first quarter worth approximately $539,000. TIAA CREF Investment Management LLC boosted its stake in shares of Yelp by 1.7% in the first quarter. TIAA CREF Investment Management LLC now owns 195,107 shares of the local business review company’s stock worth $3,879,000 after buying an additional 3,310 shares during the period. BlackRock Inc. boosted its stake in shares of Yelp by 10.0% in the first quarter. BlackRock Inc. now owns 78,658 shares of the local business review company’s stock worth $1,564,000 after buying an additional 7,175 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 worth $3,569,000 after buying an additional 654 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Yelp during the first quarter worth approximately $475,000. 74.90% of the stock is owned by institutional investors and hedge funds.
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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