Yelp Stock Rating Reaffirmed by SunTrust (YELP)
Yelp (NASDAQ:YELP)‘s stock had its “buy” rating restated by stock analysts at SunTrust in a report issued on Thursday. They currently have a $90.00 price objective on the stock, up from their previous price objective of $85.00. SunTrust’s price target indicates a potential upside of 34.01% from the stock’s previous close.
In other Yelp news, CEO Jeremy Stoppelman sold 13,514 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $69.46, for a total value of $938,682.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 17,553,290 shares. Yelp has a 52 week low of $46.96 and a 52 week 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 $4.813 billion. Yelp also saw unusually large options trading activity on Wednesday. Stock traders acquired 42,864 call options on the stock. This is an increase of approximately 631% compared to the average daily volume of 5,866 call options.
Yelp (NASDAQ:YELP) last released its earnings data 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. 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 Barclays reiterated a “buy” rating on shares of Yelp in a research note on Thursday. They now have a $85.00 price target on the stock, up previously from $73.00. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Yelp in a research note on Thursday. They now have a $87.00 price target on the stock, up previously from $74.00. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $89.03.
Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.
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