Yelp Upgraded to “Outperform” at Zacks (YELP)
Yelp (NASDAQ:YELP) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a $74.60 price target on the stock. Zacks‘ price objective would indicate a potential upside of 5.53% from the company’s current price.
Yelp (NASDAQ:YELP) traded down 0.69% on Thursday, hitting $70.20. 2,912,881 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 $4.578 billion.
Yelp (NASDAQ:YELP) last announced its earnings results 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. Analysts expect that Yelp will post $-0.11 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on YELP. Analysts at Wunderlich raised their price target on shares of Yelp (NASDAQ:YELP) from $53.00 to $82.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $54.06.
In other Yelp news, CEO Jeremy Stoppelman sold 14,706 shares of the 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 can be accessed through this link.
Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.
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