Yelp Inc. (YELP) Stock Rating Upgraded by Vetr Inc.
Yelp Inc. (NYSE:YELP) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $43.08 price objective on the local business review company’s stock. Vetr‘s target price indicates a potential upside of 5.95% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Yelp from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday. Cantor Fitzgerald reissued a “buy” rating and set a $42.00 price objective on shares of Yelp in a report on Tuesday, September 27th. Maxim Group boosted their price objective on shares of Yelp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, September 26th. Mizuho boosted their price objective on shares of Yelp from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $34.00 price objective (up from $29.00) on shares of Yelp in a report on Monday, September 12th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Yelp has an average rating of “Hold” and a consensus price target of $36.03.
Yelp (NYSE:YELP) opened at 40.66 on Monday. Yelp has a one year low of $14.53 and a one year high of $43.36. The firm has a 50-day moving average of $39.03 and a 200 day moving average of $29.62. The company’s market capitalization is $3.14 billion.
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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, beating the consensus estimate 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 firm earned $173.40 million during the quarter, compared to analysts’ expectations of $169.82 million. During the same period in the previous year, the company earned $0.12 earnings per share. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. On average, equities analysts forecast that Yelp will post ($0.19) EPS for the current fiscal year.
In other Yelp news, COO Joseph R. Nachman sold 20,288 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $42.99, for a total transaction of $872,181.12. Following the completion of the transaction, the chief operating officer now directly owns 137,311 shares of the company’s stock, valued at approximately $5,902,999.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Laurence Wilson sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $42.22, for a total transaction of $949,950.00. Following the transaction, the senior vice president now directly owns 183,951 shares of the company’s stock, valued at $7,766,411.22. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Yelp by 3.4% in the second quarter. Vanguard Group Inc. now owns 4,627,569 shares of the local business review company’s stock worth $140,493,000 after buying an additional 150,902 shares in the last quarter. Jackson Square Partners LLC raised its position in Yelp by 4.5% in the second quarter. Jackson Square Partners LLC now owns 2,211,457 shares of the local business review company’s stock worth $67,139,000 after buying an additional 95,977 shares in the last quarter. Marshall Wace LLP raised its position in Yelp by 7,215.4% in the second quarter. Marshall Wace LLP now owns 1,580,204 shares of the local business review company’s stock worth $47,975,000 after buying an additional 1,558,603 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Yelp by 5.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,489,593 shares of the local business review company’s stock worth $45,224,000 after buying an additional 75,756 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in Yelp by 1.6% in the second quarter. Macquarie Group Ltd. now owns 1,450,951 shares of the local business review company’s stock worth $44,051,000 after buying an additional 22,868 shares in the last quarter. 74.90% of the stock is owned by institutional investors.
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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