Wall Street brokerages forecast that Yelp Inc (NYSE:YELP) will announce sales of $245.30 million for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have provided estimates for Yelp’s earnings, with estimates ranging from $243.95 million to $246.67 million. Yelp posted sales of $222.38 million in the same quarter last year, which suggests a positive year over year growth rate of 10.3%. The business is expected to report its next earnings results on Wednesday, November 7th.

On average, analysts expect that Yelp will report full-year sales of $974.47 million for the current financial year, with estimates ranging from $956.63 million to $1.14 billion. For the next financial year, analysts expect that the firm will post sales of $1.13 billion per share, with estimates ranging from $1.09 billion to $1.19 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Yelp.

Yelp (NYSE:YELP) last released its earnings results on Wednesday, August 8th. The local business review company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.14. The firm had revenue of $234.90 million for the quarter, compared to analyst estimates of $232.26 million. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS.

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on Yelp from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Zacks Investment Research raised Yelp from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Wednesday. Stifel Nicolaus lifted their price objective on Yelp from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, August 9th. Barclays lifted their price objective on Yelp from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, August 9th. Finally, KeyCorp reissued a “hold” rating on shares of Yelp in a report on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.17.

YELP traded down $1.03 during midday trading on Wednesday, reaching $45.32. The company’s stock had a trading volume of 2,655,432 shares, compared to its average volume of 1,767,172. The firm has a market capitalization of $4.13 billion, a P/E ratio of 647.43, a price-to-earnings-growth ratio of 16.19 and a beta of 0.96. Yelp has a twelve month low of $36.42 and a twelve month high of $51.33.

In related news, Director Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $45.68, for a total value of $274,080.00. Following the sale, the director now owns 10,055 shares of the company’s stock, valued at approximately $459,312.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $40.00, for a total value of $520,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,803 shares of company stock worth $9,210,455. 9.00% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC acquired a new stake in Yelp in the 2nd quarter valued at $564,000. Jafra Capital Management LP acquired a new stake in Yelp in the 2nd quarter valued at $1,450,000. Pacific Grove Capital LP acquired a new stake in Yelp in the 2nd quarter valued at $1,567,000. Metropolitan Life Insurance Co. NY boosted its stake in Yelp by 7.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 26,363 shares of the local business review company’s stock valued at $1,033,000 after buying an additional 1,760 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Yelp in the 2nd quarter valued at $1,214,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

About Yelp

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

See Also: Earnings Per Share (EPS)

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Earnings History and Estimates for Yelp (NYSE:YELP)

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