Yelp Stock Rating Upgraded by Macquarie (YELP)
Yelp (NASDAQ:YELP) was upgraded by stock analysts at Macquarie from a “neutral” rating to an “outperform” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
Yelp (NASDAQ:YELP) traded up 9.77% during mid-day trading on Thursday, hitting $64.02. The stock had a trading volume of 22,419,296 shares. Yelp has a 52 week low of $26.75 and a 52 week high of $101.75. The stock has a 50-day moving average of $71.78 and a 200-day moving average of $73.98. The company’s market cap is $4.569 billion. Yelp also was the recipient of unusually large options trading on Wednesday. Traders acquired 57,442 call options on the company. This represents an increase of approximately 397% compared to the average volume of 11,549 call options.
Yelp (NASDAQ:YELP) last released its earnings data on Wednesday, April 30th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.02. The company had revenue of $76.40 million for the quarter, compared to the consensus estimate of $75.06 million. On average, analysts predict that Yelp will post $-0.04 earnings per share for the current fiscal year.
YELP has been the subject of a number of other recent research reports. Analysts at Piper Jaffray upgraded shares of Yelp from a “neutral” rating to an “overweight” rating in a research note on Thursday. They now have a $80.00 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Yelp from $78.00 to $80.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at RBC Capital upgraded shares of Yelp from a “sector perform” rating to an “outperform” rating in a research note on Thursday. They now have a $88.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Yelp has a consensus rating of “Buy” and a consensus target price of $91.43.
In other Yelp news, CEO Jeremy Stoppelman unloaded 13,514 shares of Yelp stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $67.46, for a total transaction of $911,654.44. The sale 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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