Yelp Inc (NYSE:YELP)‘s stock had its “buy” rating reiterated by stock analysts at KeyCorp in a research note issued to investors on Thursday. They currently have a $54.00 target price on the local business review company’s stock. KeyCorp’s target price would indicate a potential upside of 17.21% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company reissued a “market perform” rating and issued a $45.00 price objective (up previously from $36.00) on shares of Yelp in a research note on Thursday. Zacks Investment Research raised shares of Yelp from a “hold” rating to a “strong-buy” rating and set a $54.00 price objective for the company in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $49.00 price objective on shares of Yelp in a research note on Thursday. J P Morgan Chase & Co reissued a “buy” rating and issued a $52.00 price objective on shares of Yelp in a research note on Thursday. Finally, Royal Bank Of Canada raised shares of Yelp from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $36.00 to $55.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Yelp currently has an average rating of “Buy” and an average target price of $43.37.

Shares of Yelp (NYSE:YELP) traded up $0.09 during trading hours on Thursday, hitting $46.07. 1,660,000 shares of the company were exchanged, compared to its average volume of 1,550,000. Yelp has a 1 year low of $26.93 and a 1 year high of $48.17. The company has a market cap of $3,770.00, a P/E ratio of 209.00, a price-to-earnings-growth ratio of 25.00 and a beta of 1.29.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Wednesday, November 1st. The local business review company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.30. Yelp had a net margin of 2.31% and a return on equity of 2.26%. The firm had revenue of $222.40 million during the quarter, compared to the consensus estimate of $220.75 million. During the same quarter last year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities research analysts predict that Yelp will post 0.07 EPS for the current year.

Yelp announced that its board has approved a stock buyback program on Thursday, August 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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In related news, insider Laurence Wilson sold 30,000 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $46.18, for a total transaction of $1,385,400.00. Following the completion of the transaction, the insider now directly owns 187,739 shares in the company, valued at $8,669,787.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $41.05, for a total transaction of $533,650.00. The disclosure for this sale can be found here. Insiders have sold 310,981 shares of company stock valued at $13,545,530 over the last quarter. Insiders own 10.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its position in Yelp by 0.9% during the second quarter. Amalgamated Bank now owns 9,993 shares of the local business review company’s stock valued at $300,000 after purchasing an additional 88 shares during the period. Pier 88 Investment Partners LLC lifted its position in Yelp by 1.7% during the second quarter. Pier 88 Investment Partners LLC now owns 17,580 shares of the local business review company’s stock valued at $528,000 after purchasing an additional 300 shares during the period. California State Teachers Retirement System lifted its position in Yelp by 1.0% during the second quarter. California State Teachers Retirement System now owns 137,621 shares of the local business review company’s stock valued at $4,131,000 after purchasing an additional 1,427 shares during the period. Parallel Advisors LLC lifted its position in Yelp by 3.5% during the second quarter. Parallel Advisors LLC now owns 55,591 shares of the local business review company’s stock valued at $1,808,000 after purchasing an additional 1,899 shares during the period. Finally, Menta Capital LLC lifted its position in Yelp by 10.6% during the second quarter. Menta Capital LLC now owns 19,900 shares of the local business review company’s stock valued at $597,000 after purchasing an additional 1,900 shares during the period. Institutional investors own 89.28% of the company’s stock.

About Yelp

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 offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.

Analyst Recommendations for Yelp (NYSE:YELP)

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