Yelp Shares Down 7.9% After Insider Selling (YELP)
Yelp (NASDAQ:YELP) dropped 7.9% on Tuesday after an insider sold shares in the company, AnalystRatings.Net reports. The stock traded as low as $68.21 and last traded at $69.75, with a volume of 4,755,606 shares trading hands. The stock had previously closed at $75.76.
Specifically, CEO Jeremy Stoppelman unloaded 13,514 shares of Yelp stock on the open market in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $78.35, for a total value of $1,058,821.90. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Yelp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 1st. They now have a $79.00 price target on the stock. Separately, analysts at Telsey Advisory Group reiterated a “” rating on shares of Yelp in a research note on Tuesday, June 24th. They now have a $105.00 price target on the stock. Finally, analysts at Northland Securities raised their price target on shares of Yelp from $85.00 to $94.00 in a research note on Friday, June 20th. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $88.43.
The stock has a 50-day moving average of $70.02 and a 200-day moving average of $74.38. The company’s market cap is $5.067 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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