Yelp Price Target Raised to $82.00 at Wunderlich (YELP)
Equities research analysts at Wunderlich lifted their target price on shares of Yelp (NASDAQ:YELP) from $53.00 to $82.00 in a research note issued to investors on Thursday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Wunderlich’s target price points to a potential upside of 16.00% from the company’s current price.
The analysts wrote, “We are raising our price target on Yelp Inc. (YELP) to $82 from $53 as we believe the company has become better positioned with new products to capture marketing spend from local businesses. Our survey of local business advertisers has indicated a generally positive impact to their business and ROI from Yelp advertisements although many business owners remain frustrated with the review filter. We expect Yelp to continue to exceed expectations by focusing on taking market share from other local advertising services, especially from offline sources. We also expect investors to continue to reward the company’s ability to increase its share of mobile searches and ads and eventually become a predominantly mobile company.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company reiterated a “buy” rating on shares of Yelp (NASDAQ:YELP) in a research note to investors on Tuesday. They now have a $78.00 price target on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Yelp (NASDAQ:YELP) from $60.00 to $80.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at CRT Capital initiated coverage on shares of Yelp (NASDAQ:YELP) in a research note to investors on Thursday, September 19th. They set a “fair value” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $52.92.
In other Yelp news, CEO Jeremy Stoppelman sold 14,706 shares of Yelp stock on the open market in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $66.68, for a total transaction of $980,596.08. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Yelp (NASDAQ:YELP) traded up 0.16% during mid-day trading on Thursday, hitting $70.80. 1,871,295 shares of the company’s stock traded hands. Yelp has a 52 week low of $16.32 and a 52 week high of $73.20. The stock has a 50-day moving average of $59.83 and a 200-day moving average of $39.35. The company’s market cap is $4.617 billion.
Yelp (NASDAQ:YELP) last released its earnings data on Wednesday, July 31st. The company reported ($0.01) earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Yelp will post $-0.11 EPS for the current fiscal year.
Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.
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