Yelp Shares Down 4% on Insider Selling (YELP)
Shares of Yelp (NASDAQ:YELP) were down 4% during mid-day trading on Friday after an insider sold shares in the company, StockRatingsNetwork.com reports. The stock traded as low as $64.92 and last traded at $65.79, with a volume of 4,674,418 shares. The stock had previously closed at $68.56.
Specifically, CEO Jeremy Stoppelman sold 13,514 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $62.69, for a total value of $847,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on YELP. Analysts at Stifel Nicolaus cut their price target on shares of Yelp from $95.00 to $67.00 in a research note on Monday, May 12th. Separately, analysts at MKM Partners cut their price target on shares of Yelp from $110.00 to $86.00 in a research note on Monday, May 12th. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley upgraded shares of Yelp from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 8th. They now have a $69.00 price target on the stock. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Yelp currently has an average rating of “Buy” and a consensus target price of $87.88.
The stock has a 50-day moving average of $59.90 and a 200-day moving average of $72.58. The company’s market cap is $4.729 billion.
Yelp (NASDAQ:YELP) last posted its quarterly earnings results 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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