Yelp Stock Rating Reaffirmed by Credit Suisse (YELP)
Yelp (NASDAQ:YELP)‘s stock had its “outperform” rating restated by equities researchers at Credit Suisse in a research report issued on Thursday. They currently have a $93.00 target price on the stock, up from their previous target price of $90.00. Credit Suisse’s target price would indicate a potential upside of 38.48% from the company’s current price.
Shares of 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 1-year low of $46.96 and a 1-year high of $101.75. The stock has a 50-day moving average of $72.66 and a 200-day moving average of $74.09. The company’s market cap is $4.813 billion. Yelp also was the target of some unusual options trading on Wednesday. Stock traders purchased 42,864 call options on the company. This represents an increase of 631% compared to the average daily volume of 5,866 call options.
Yelp (NASDAQ:YELP) last announced its earnings results on Wednesday, July 30th. The company reported $0.04 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.01) earnings per share. Yelp’s revenue was up 61.5% compared to the same quarter last year. On average, analysts predict that Yelp will post $-0.03 earnings per share for the current fiscal year.
In other Yelp news, SVP Laurence Wilson sold 11,250 shares of the 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 transaction of $838,575.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on YELP. 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. Separately, 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. Finally, analysts at CRT Capital raised their price target on shares of Yelp from $73.00 to $85.00 in a research note on Thursday. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the company. The company currently 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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