Yelp Inc. (YELP) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Yelp Inc. (NYSE:YELP) from a hold rating to a buy rating in a research report report published on Tuesday morning. Zacks Investment Research currently has $52.00 target price on the local business review company’s stock.
According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “
Several other research firms have also issued reports on YELP. Roth Capital lifted their target price on shares of Yelp from $35.00 to $41.00 and gave the company a neutral rating in a report on Tuesday, October 31st. KeyCorp set a $54.00 target price on shares of Yelp and gave the company a buy rating in a report on Thursday, November 16th. Cantor Fitzgerald lowered shares of Yelp from an overweight rating to a neutral rating and lowered their target price for the company from $46.73 to $44.00 in a report on Monday, October 9th. SunTrust Banks, Inc. set a $51.00 target price on shares of Yelp and gave the company a buy rating in a report on Wednesday, November 1st. Finally, B. Riley reiterated a hold rating and set a $39.00 target price on shares of Yelp in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have assigned a buy rating to the stock. Yelp has a consensus rating of Hold and a consensus price target of $43.31.
Yelp (NYSE YELP) opened at $47.58 on Tuesday. Yelp has a 1-year low of $26.93 and a 1-year high of $48.17. The stock has a market cap of $3,910.70, a P/E ratio of 214.46, a PEG ratio of 10.60 and a beta of 1.29.
Yelp (NYSE:YELP) last released its earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. Yelp had a net margin of 2.31% and a return on equity of 2.20%. The firm had revenue of $222.40 million during the quarter, compared to analyst estimates of $220.75 million. During the same period last year, the business earned $0.22 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. analysts expect that Yelp will post 0.17 EPS for the current fiscal year.
Yelp announced that its board has approved a share repurchase program on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the local business review company to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
In other Yelp news, COO Joseph R. Nachman sold 5,260 shares of Yelp stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $46.92, for a total value of $246,799.20. Following the completion of the sale, the chief operating officer now owns 114,414 shares of the company’s stock, valued at approximately $5,368,304.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $47.00, for a total transaction of $282,000.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $450,730. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,956 shares of company stock valued at $13,762,678. 10.10% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Strs Ohio bought a new stake in Yelp in the 2nd quarter worth approximately $108,000. Oppenheimer Asset Management Inc. grew its position in shares of Yelp by 28,585.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock valued at $174,000 after acquiring an additional 4,002 shares during the period. Russell Investments Group Ltd. grew its position in shares of Yelp by 98.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after acquiring an additional 2,033 shares during the period. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Yelp during the 3rd quarter valued at $204,000. Finally, Turner Investments LLC bought a new stake in shares of Yelp during the 3rd quarter valued at $217,000. 85.66% of the stock is owned by institutional investors and hedge funds.
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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