SunTrust Upgrades Yelp to Buy (YELP)
Yelp (NASDAQ:YELP) was upgraded by equities research analysts at SunTrust from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, AnalystRatings.Net reports. The firm currently has a $85.00 price objective on the stock, down from their previous price objective of $100.00. SunTrust’s price objective would suggest a potential upside of 28.79% from the company’s current price. The analysts noted that the move was a valuation call.
Yelp (NASDAQ:YELP) opened at 66.00 on Tuesday. Yelp has a 52-week low of $24.10 and a 52-week high of $101.75. The stock’s 50-day moving average is $86.82 and its 200-day moving average is $74.63. The company’s market cap is $4.710 billion.
Yelp (NASDAQ:YELP) last announced its earnings results on Wednesday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $70.70 million for the quarter, compared to the consensus estimate of $67.22 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 71.4% on a year-over-year basis. Analysts expect that Yelp will post $-0.04 EPS for the current fiscal year.
YELP has been the subject of a number of other recent research reports. Analysts at Oppenheimer upgraded shares of Yelp from a “market perform” rating to an “outperform” rating in a research note on Monday. They now have a $78.00 price target on the stock. Separately, analysts at Wells Fargo & Co. initiated coverage on shares of Yelp in a research note on Monday, March 31st. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Finally, analysts at Wunderlich raised their price target on shares of Yelp from $90.00 to $105.00 in a research note on Thursday, March 27th. They now have a “buy” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $84.47.
Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.
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