Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Yelp (YELP) Stock Price
Headlines about Yelp (NYSE:YELP) have been trending somewhat positive this week, Accern reports. The research firm identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Yelp earned a daily sentiment score of 0.19 on Accern’s scale. Accern also gave news stories about the local business review company an impact score of 44.8029873624057 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern’s analysis:
- Vacation town – Sacramento CA (yelp.com)
- Connecture (CNXR) vs. Yelp (YELP) Head to Head Contrast (americanbankingnews.com)
- Mixed reviews for Woodbine Avenue bike lanes in Toronto (globalnews.ca)
- Los Angeles, CA 90291 (yelp.com)
- Zacks: Analysts Expect Yelp Inc. (YELP) Will Announce Quarterly Sales of $220.49 Million (americanbankingnews.com)
Several equities research analysts recently issued reports on the stock. Jefferies Group LLC raised their target price on shares of Yelp from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research upgraded shares of Yelp from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a research report on Tuesday, August 8th. Cowen and Company reiterated a “market perform” rating and issued a $38.00 price target (up from $33.00) on shares of Yelp in a research report on Wednesday, August 9th. B. Riley reiterated a “neutral” rating and issued a $36.00 price target on shares of Yelp in a research report on Wednesday, August 9th. Finally, UBS AG reiterated a “sell” rating and issued a $30.00 price target (up from $28.00) on shares of Yelp in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and nineteen have assigned a buy rating to the company. Yelp currently has an average rating of “Hold” and a consensus target price of $38.13.
Shares of Yelp (YELP) opened at 42.14 on Tuesday. Yelp has a 12-month low of $26.93 and a 12-month high of $43.41. The stock has a 50 day moving average of $36.29 and a 200 day moving average of $33.38. The stock has a market capitalization of $3.45 billion, a P/E ratio of 266.71 and a beta of 1.48.
Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The firm had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. During the same period last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities research analysts anticipate that Yelp will post $0.07 EPS for the current fiscal year.
Yelp declared that its Board of Directors has approved a share repurchase plan on Thursday, August 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the local business review company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, CFO Charles Baker sold 3,921 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total transaction of $162,525.45. Following the completion of the transaction, the chief financial officer now owns 112,941 shares of the company’s stock, valued at $4,681,404.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $29.99, for a total value of $119,960.00. Following the transaction, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $287,604.10. The disclosure for this sale can be found here. Insiders have sold 147,240 shares of company stock worth $5,820,559 over the last three months. Corporate insiders own 10.10% of the company’s stock.
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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 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.
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