Yelp’s (YELP) Buy Rating Reiterated at Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Yelp Inc. (NYSE:YELP) in a report released on Thursday morning. Needham & Company LLC currently has a $49.00 target price on the local business review company’s stock.
Several other research firms also recently weighed in on YELP. Morgan Stanley restated an equal weight rating and set a $26.00 target price (down from $28.00) on shares of Yelp in a report on Thursday, July 20th. BidaskClub upgraded shares of Yelp from a sell rating to a hold rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $42.00 target price on shares of Yelp in a report on Wednesday, October 11th. Cantor Fitzgerald downgraded shares of Yelp from an overweight rating to a neutral rating and dropped their target price for the company from $46.73 to $44.00 in a report on Monday, October 9th. Finally, KeyCorp restated a buy rating and set a $54.00 target price on shares of Yelp in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $43.37.
Shares of Yelp (NYSE YELP) opened at $46.07 on Thursday. Yelp has a 52 week low of $26.93 and a 52 week high of $48.17. The company has a market cap of $3,768.66, a PE ratio of 209.41, a P/E/G ratio of 25.05 and a beta of 1.29.
Yelp (NYSE:YELP) last announced its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 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 2.26%. The firm had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $220.75 million. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. research analysts expect that Yelp will post 0.14 earnings per share for the current fiscal year.
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Yelp declared that its board has approved a share repurchase program on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, insider Laurence Wilson sold 10,000 shares of Yelp stock in a transaction on Friday, October 27th. The shares were sold at an average price of $45.18, for a total value of $451,800.00. Following the completion of the sale, the insider now owns 187,739 shares in the company, valued at $8,482,048.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction 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 owns 9,590 shares of the company’s stock, valued at approximately $450,730. The disclosure for this sale can be found here. Over the last three months, insiders have sold 310,981 shares of company stock worth $13,545,530. Corporate insiders own 10.10% of the company’s stock.
Several large investors have recently modified their holdings of YELP. UBS Asset Management Americas Inc. increased its stake in shares of Yelp by 46.0% in the first quarter. UBS Asset Management Americas Inc. now owns 53,227 shares of the local business review company’s stock worth $1,743,000 after buying an additional 16,766 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Yelp in the first quarter worth $319,000. Legal & General Group Plc increased its stake in shares of Yelp by 165.1% in the first quarter. Legal & General Group Plc now owns 23,905 shares of the local business review company’s stock worth $783,000 after buying an additional 14,889 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Yelp by 11.2% in the first quarter. Vanguard Group Inc. now owns 5,703,608 shares of the local business review company’s stock worth $186,793,000 after buying an additional 574,004 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Yelp by 8.1% in the first quarter. Geode Capital Management LLC now owns 457,860 shares of the local business review company’s stock worth $14,994,000 after buying an additional 34,269 shares during the last quarter. Institutional investors and hedge funds own 89.28% of the company’s stock.
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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