Yelp Given New $86.00 Price Target at Deutsche Bank (YELP)
Equities researchers at Deutsche Bank boosted their price target on shares of Yelp (NASDAQ:YELP) from $74.00 to $86.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target would indicate a potential upside of 13.76% from the stock’s previous close.
Yelp (NASDAQ:YELP) opened at 70.48 on Thursday. Yelp has a one year low of $46.96 and a one year high of $101.75. The stock has a 50-day moving average of $72.62 and a 200-day moving average of $74.14. The company’s market cap is $5.051 billion. Yelp also saw unusually large options trading activity on Wednesday. Traders purchased 42,864 call options on the company. This is an increase of approximately 631% compared to the average 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.
A number of other analysts have also recently weighed in on YELP. Analysts at Macquarie raised their price target on shares of Yelp from $82.00 to $93.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Yelp from $94.00 to $100.00 in a research note on Thursday. They now have an “overweight” rating on the stock. Finally, analysts at Raymond James downgraded shares of Yelp from an “outperform” rating to a “market perform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $89.14.
In other Yelp news, CEO Jeremy Stoppelman sold 13,514 shares of Yelp stock on the open market in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $69.46, for a total value of $938,682.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.
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