Yelp Inc. (NYSE:YELP) Given Consensus Recommendation of “Hold” by Analysts
Shares of Yelp Inc. (NYSE:YELP) have been given a consensus recommendation of “Hold” by the thirty-eight brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.04.
Several research analysts recently issued reports on YELP shares. Vetr lowered Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 target price for the company. in a research report on Thursday, April 20th. Wells Fargo & Company raised Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 target price for the company in a research report on Friday, May 5th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $37.00 target price (down from $47.00) on shares of Yelp in a research report on Wednesday, May 10th. Credit Suisse Group set a $40.00 target price on Yelp and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, BidaskClub lowered Yelp from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd.
Shares of Yelp (NYSE YELP) opened at 42.03 on Friday. Yelp has a 52-week low of $26.93 and a 52-week high of $43.41. The company has a market cap of $3.44 billion, a P/E ratio of 261.06 and a beta of 1.48. The stock’s 50 day moving average price is $33.08 and its 200-day moving average price is $33.42.
Yelp (NYSE:YELP) last announced its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. The business had revenue of $209.90 million during the quarter, compared to analyst estimates of $204.89 million. Yelp had a return on equity of 1.60% and a net margin of 1.67%. Yelp’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. Equities analysts expect that Yelp will post $0.07 EPS for the current year.
Yelp declared that its board has approved a stock repurchase plan on Thursday, August 3rd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
In related news, Director Geoffrey L. Donaker sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $27.65, for a total value of $110,600.00. Following the transaction, the director now owns 9,590 shares in the company, valued at $265,163.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Laurence Wilson sold 3,128 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total value of $88,303.44. Following the completion of the transaction, the senior vice president now owns 181,947 shares in the company, valued at approximately $5,136,363.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,751 shares of company stock worth $4,261,130. 10.10% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Jackson Square Partners LLC increased its position in Yelp by 2.3% in the second quarter. Jackson Square Partners LLC now owns 2,070,578 shares of the local business review company’s stock valued at $62,158,000 after buying an additional 46,328 shares during the last quarter. FMR LLC purchased a new position in Yelp during the second quarter valued at approximately $2,402,000. Vanguard Group Inc. increased its position in Yelp by 4.1% in the second quarter. Vanguard Group Inc. now owns 5,935,362 shares of the local business review company’s stock valued at $178,180,000 after buying an additional 231,754 shares during the last quarter. Stonerise Capital Management LLC increased its position in Yelp by 30.8% in the second quarter. Stonerise Capital Management LLC now owns 339,700 shares of the local business review company’s stock valued at $10,198,000 after buying an additional 80,000 shares during the last quarter. Finally, Northern Trust Corp increased its position in Yelp by 171.3% in the second quarter. Northern Trust Corp now owns 968,313 shares of the local business review company’s stock valued at $29,069,000 after buying an additional 611,461 shares during the last quarter. Institutional investors and hedge funds own 94.79% 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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