Citigroup Inc. Reiterates “Buy” Rating for Yelp (YELP)
Yelp (NASDAQ:YELP)‘s stock had its “buy” rating restated by Citigroup Inc. in a research note issued on Thursday. They currently have a $87.00 price target on the stock, up from their previous price target of $74.00. Citigroup Inc.’s price target suggests a potential upside of 29.54% from the company’s current price.
In other Yelp news, SVP Laurence Wilson sold 11,250 shares of the company’s stock on the open market in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $74.54, for a total value of $838,575.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Yelp (NASDAQ:YELP) traded down 11.16% during mid-day trading on Thursday, hitting $67.16. The stock had a trading volume of 17,569,454 shares. Yelp has a one year low of $46.96 and a one year high of $101.75. The stock’s 50-day moving average is $72.66 and its 200-day moving average is $74.09. The company’s market cap is $4.813 billion. Yelp also saw unusually large options trading on Wednesday. Investors purchased 42,864 call options on the company. This is an increase of 631% compared to the average daily volume of 5,866 call options.
Yelp (NASDAQ:YELP) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. The company had revenue of $88.80 million for the quarter, compared to the consensus estimate of $86.32 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 61.5% on a year-over-year basis. Analysts expect that Yelp will post $-0.03 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Yelp in a research note on Thursday. They now have a $93.00 price target on the stock, up previously from $90.00. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Yelp from $80.00 to $84.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Yelp from $100.00 to $105.00 in a research note on Thursday. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the stock. Yelp has a consensus rating of “Buy” and an average target price of $89.03.
Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.
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