Vetr Inc. Upgrades Yelp Inc. (YELP) to Buy
Yelp Inc. (NYSE:YELP) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $42.74 target price on the local business review company’s stock. Vetr‘s target price suggests a potential upside of 5.12% from the company’s current price.
Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald reissued a “buy” rating on shares of Yelp in a report on Saturday, July 9th. B. Riley reissued a “neutral” rating and set a $27.00 price objective on shares of Yelp in a report on Wednesday, August 10th. Wedbush raised their price objective on shares of Yelp from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th. Morgan Stanley lifted their target price on shares of Yelp from $19.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, August 9th. Finally, Barclays PLC lifted their target price on shares of Yelp from $25.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, August 10th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the company. Yelp presently has an average rating of “Hold” and an average price target of $36.03.
Yelp (NYSE:YELP) traded down 1.14% during trading on Monday, reaching $40.66. 1,178,785 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $39.03 and its 200-day moving average price is $29.62. The stock’s market cap is $3.14 billion. Yelp has a one year low of $14.53 and a one year high of $43.36.
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Yelp (NYSE:YELP) last released its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The company had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $169.82 million. During the same quarter last year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, equities analysts anticipate that Yelp will post ($0.19) earnings per share for the current fiscal year.
In other news, COO Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $29.38, for a total transaction of $176,280.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $176,280. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Joseph R. Nachman sold 20,288 shares of the stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $42.99, for a total value of $872,181.12. Following the transaction, the chief operating officer now owns 137,311 shares of the company’s stock, valued at $5,902,999.89. The disclosure for this sale can be found here. Insiders own 11.08% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new position in shares of Yelp during the second quarter valued at about $112,000. Legal & General Group Plc boosted its position in shares of Yelp by 62.0% in the second quarter. Legal & General Group Plc now owns 5,742 shares of the local business review company’s stock valued at $174,000 after buying an additional 2,197 shares during the period. IBM Retirement Fund purchased a new position in shares of Yelp during the second quarter valued at about $209,000. Private Advisor Group LLC purchased a new position in shares of Yelp during the second quarter valued at about $231,000. Finally, Concourse Capital Management LLC purchased a new position in shares of Yelp during the second quarter valued at about $278,000. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Yelp Company Profile
Yelp Inc (Yelp) connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.
To view Vetr’s full report, visit Vetr’s official website.
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