Yelp Trading Down 8.4% After Insider Selling (YELP)
Shares of Yelp (NASDAQ:YELP) fell 8.4% during mid-day trading on Tuesday after an insider sold shares in the company, American Banking News.com reports. The stock traded as low as $55.15 and last traded at $55.16, with a volume of 5,908,480 shares changing hands. The stock had previously closed at $60.19.
Specifically, CEO Jeremy Stoppelman sold 13,514 shares of the company’s stock on the open market in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $63.13, for a total transaction of $853,138.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on YELP shares. Analysts at Raymond James reiterated an “outperform” rating on shares of Yelp in a research note on Thursday, May 1st. They now have a $80.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Yelp in a research note on Thursday, May 1st. They now have a $74.00 price target on the stock. Finally, analysts at Credit Suisse upgraded shares of Yelp to an “outperform” rating in a research note on Thursday, May 1st. They now have a $90.00 price target on the stock, up previously from $87.00. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $90.27.
The stock has a 50-day moving average of $70.23 and a 200-day moving average of $73.92. The company’s market cap is $3.763 billion.
Yelp (NASDAQ:YELP) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ 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 $-0.03 earnings per share 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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