Yelp Given New $70.00 Price Target at UBS AG (YELP)
Equities researchers at UBS AG boosted their target price on shares of Yelp (NASDAQ:YELP) from $42.00 to $70.00 in a research report issued on Thursday, Stock Ratings Network reports. The firm currently has a “neutral” rating on the stock. UBS AG’s target price would suggest a potential upside of 8.39% from the stock’s previous close.
Yelp (NASDAQ:YELP) traded down 1.19% on Thursday, hitting $63.8101. 3,451,587 shares of the company’s stock traded hands. Yelp has a one year low of $16.32 and a one year high of $66.24. The stock’s 50-day moving average is $51.52 and its 200-day moving average is $34.61. The company’s market cap is $4.162 billion. Yelp also was the target of some unusual options trading on Monday. Stock investors acquired 6,666 put options on the company. This is an increase of 111% compared to the average daily volume of 3,164 put options.
Yelp (NASDAQ:YELP) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.03. The company had revenue of $55.02 million for the quarter, compared to the consensus estimate of $53.28 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 68.3% on a year-over-year basis. On average, analysts predict that Yelp will post $-0.11 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital initiated coverage on shares of Yelp (NASDAQ:YELP) in a research note to investors on Friday, September 6th. They set an “overweight” rating on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of Yelp (NASDAQ:YELP) in a research note to investors on Friday, September 6th. They set a “buy” rating and a $81.00 price target on the stock. Finally, analysts at MKM Partners raised their price target on shares of Yelp (NASDAQ:YELP) from $55.00 to $71.00 in a research note to investors on Monday, August 5th. They now have a “buy” rating on the stock.
Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $48.15.
In other Yelp news, CEO Jeremy Stoppelman unloaded 14,706 shares of the company’s stock on the open market in a transaction dated Monday, September 9th. The stock was sold at an average price of $62.14, for a total transaction of $913,830.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.
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