Yelp Price Target Cut to $86.00 by Analysts at MKM Partners (YELP)
Equities research analysts at MKM Partners reduced their price target on shares of Yelp (NASDAQ:YELP) from $110.00 to $86.00 in a research note issued to investors on Monday, Analyst Ratings News reports. The firm currently has a “buy” rating on the stock. MKM Partners’ price objective points to a potential upside of 51.94% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at UBS AG downgraded shares of Yelp from an “overweight” rating to an “equal weight” rating in a research note on Thursday. Separately, analysts at Morgan Stanley upgraded shares of Yelp from an “equal weight” rating to an “overweight” rating in a research note on Thursday. They now have a $69.00 price target on the stock. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Yelp has a consensus rating of “Buy” and an average target price of $87.88.
In other Yelp news, CEO Jeremy Stoppelman sold 13,514 shares of Yelp stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $59.23, for a total transaction of $800,434.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Yelp (NASDAQ:YELP) traded up 4.39% during mid-day trading on Monday, hitting $56.60. 6,589,216 shares of the company’s stock traded hands. Yelp has a 52-week low of $26.75 and a 52-week high of $101.75. The stock’s 50-day moving average is $65.49 and its 200-day moving average is $73.3. The company’s market cap is $4.056 billion.
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. Analysts expect that Yelp will post $-0.03 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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