Zacks Investment Research upgraded shares of Yelp Inc. (NYSE:YELP) from a hold rating to a buy rating in a report published on Thursday morning. The brokerage currently has $47.00 price objective on the local business review company’s stock.
According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “
Several other research analysts also recently issued reports on YELP. Tigress Financial reaffirmed a buy rating on shares of Yelp in a research note on Tuesday, June 14th. Deutsche Bank AG raised Yelp from a hold rating to a buy rating and lifted their price target for the stock from $26.00 to $33.00 in a research note on Monday, June 20th. Needham & Company LLC reissued a buy rating and issued a $34.00 target price (up previously from $28.00) on shares of Yelp in a research note on Thursday, June 23rd. Vetr downgraded shares of Yelp from a strong-buy rating to a buy rating and set a $33.07 target price for the company. in a research note on Thursday, June 23rd. Finally, Jefferies Group reissued a buy rating and issued a $28.00 target price on shares of Yelp in a research note on Monday, June 27th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $36.02.
Shares of Yelp (NYSE:YELP) traded down 1.07% during mid-day trading on Thursday, hitting $40.69. 556,490 shares of the stock traded hands. Yelp has a one year low of $14.53 and a one year high of $43.36. The stock has a 50 day moving average price of $38.95 and a 200-day moving average price of $29.48. The company’s market cap is $3.15 billion.
Yelp (NYSE:YELP) last released its quarterly earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, topping the 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 quarter in the previous year, the company posted $0.12 EPS. On average, analysts forecast that Yelp will post ($0.19) earnings per share for the current fiscal year.
In related news, COO Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $29.38, for a total value of $176,280.00. Following the completion of the sale, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at approximately $176,280. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Stoppelman sold 5,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was 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 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. Insiders own 11.08% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. UBS Group AG increased its stake in shares of Yelp by 107.1% in the first quarter. UBS Group AG now owns 31,436 shares of the local business review company’s stock valued at $625,000 after buying an additional 474,072 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Yelp by 2.8% in the second quarter. Fisher Asset Management LLC now owns 391,351 shares of the local business review company’s stock valued at $11,670,000 after buying an additional 10,486 shares in the last quarter. Geduld E E acquired a new stake in shares of Yelp during the second quarter valued at about $304,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Yelp during the first quarter valued at about $364,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Yelp during the first quarter valued at about $475,000. 74.90% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Yelp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.