Yelp PT Raised to $93.00 (YELP)
Investment analysts at Macquarie upped their target price on shares of Yelp (NASDAQ:YELP) from $82.00 to $93.00 in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock. Macquarie’s price objective points to a potential upside of 23.02% from the stock’s previous close.
Yelp (NASDAQ:YELP) opened at 69.9894 on Thursday. Yelp has a 1-year low of $46.96 and a 1-year high of $101.75. The stock’s 50-day moving average is $72.62 and its 200-day moving average is $74.14. The company’s market cap is $5.016 billion. Yelp also was the target of some unusual options trading on Wednesday. Stock investors acquired 42,864 call options on the stock. This represents an increase of 631% compared to the average volume of 5,866 call options.
Yelp (NASDAQ:YELP) last released its earnings data on Wednesday, July 30th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 61.5% on a year-over-year basis. Analysts expect that Yelp will post $-0.03 EPS for the current fiscal year.
In other Yelp news, CEO Jeremy Stoppelman unloaded 13,514 shares of the company’s stock on the open market in a transaction dated 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 legal filing with the SEC, which is available at this link.
Several other analysts have also recently commented on the stock. 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. Separately, analysts at Raymond James downgraded shares of Yelp from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, analysts at Piper Jaffray raised their price target on shares of Yelp from $80.00 to $90.00 in a research note on Thursday. They now have an “overweight” rating on the stock. One equities 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 company. The company presently has a consensus rating of “Buy” and an average price target of $89.14.
Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.
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