Yelp Inc. (YELP) Downgraded to “Buy” at Vetr Inc.
Yelp Inc. (NYSE:YELP) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $42.56 target price on the local business review company’s stock. Vetr‘s price objective points to a potential upside of 12.15% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated a “buy” rating on shares of Yelp in a research report on Saturday, July 9th. B. Riley restated a “neutral” rating and issued a $27.00 price target on shares of Yelp in a report on Wednesday, August 10th. Wedbush raised their price target on shares of Yelp from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th. Morgan Stanley raised their price target on shares of Yelp from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 9th. Finally, Barclays PLC raised their price target on shares of Yelp from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.98.
Yelp (NYSE:YELP) opened at 37.95 on Monday. The firm’s market capitalization is $2.94 billion. The stock’s 50 day moving average is $35.97 and its 200 day moving average is $27.26. Yelp has a 1-year low of $14.53 and a 1-year high of $39.96.
Yelp (NYSE:YELP) last posted its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The company earned $173.40 million during the quarter, compared to analysts’ expectations of $169.82 million. During the same period in the prior year, the company posted $0.12 earnings per share. Yelp’s revenue for the quarter was up 29.5% compared to the same quarter last year. Analysts predict that Yelp will post ($0.19) EPS for the current fiscal year.
In related news, SVP Michael Stoppelman sold 5,000 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $38.19, for a total transaction of $190,950.00. Following the completion of the sale, the senior vice president now directly owns 131,948 shares in the company, valued at approximately $5,039,094.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph R. Nachman sold 2,508 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $37.45, for a total transaction of $93,924.60. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC raised its stake in Yelp by 8.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 37,560 shares of the local business review company’s stock worth $767,000 after buying an additional 2,871 shares in the last quarter. Pacad Investment Ltd. raised its position in shares of Yelp by 77.8% in the first quarter. Pacad Investment Ltd. now owns 62,192 shares of the local business review company’s stock valued at $1,236,000 after buying an additional 27,218 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Yelp during the first quarter valued at approximately $539,000. TIAA CREF Investment Management LLC raised its position 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 valued at $3,879,000 after buying an additional 3,310 shares during the period. Finally, BlackRock Inc. raised its position 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 valued at $1,564,000 after buying an additional 7,175 shares during the period. Institutional investors 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.
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