Yelp Inc. (YELP) Cut to “Hold” at Zacks Investment Research
Yelp Inc. (NYSE:YELP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “
A number of other equities analysts have also recently issued reports on YELP. Vetr cut shares of Yelp from a “strong-buy” rating to a “buy” rating and set a $33.32 price objective for the company. in a research note on Monday, July 4th. MKM Partners raised shares of Yelp from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, June 30th. Jefferies Group reaffirmed a “buy” rating and issued a $28.00 target price on shares of Yelp in a report on Monday, June 27th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price objective (up previously from $28.00) on shares of Yelp in a report on Thursday, June 23rd. Finally, Deutsche Bank AG raised shares of Yelp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $26.00 to $33.00 in a report on Monday, June 20th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have issued a buy rating to the stock. Yelp presently has a consensus rating of “Hold” and an average price target of $36.03.
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Yelp (NYSE:YELP) traded down 0.15% during midday trading on Wednesday, reaching $39.41. 198,630 shares of the company traded hands. Yelp has a 12 month low of $14.53 and a 12 month high of $43.36. The firm has a 50 day moving average of $39.15 and a 200-day moving average of $29.99. The stock’s market capitalization is $3.05 billion.
Yelp (NYSE:YELP) last released its earnings results on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The firm earned $173.40 million during the quarter, compared to analysts’ expectations of $169.82 million. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 EPS. 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 business’s stock in a transaction dated Wednesday, October 5th. The stock was 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 owns 137,311 shares of the company’s stock, valued at $5,902,999.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Laurence Wilson sold 22,500 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $42.22, for a total value of $949,950.00. Following the transaction, the senior vice president now directly owns 183,951 shares of the company’s stock, valued at approximately $7,766,411.22. The disclosure for this sale can be found here. 11.08% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new position in shares of Yelp during the second quarter valued at approximately $112,000. Legal & General Group Plc increased 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 last quarter. IBM Retirement Fund acquired a new position in shares of Yelp during the second quarter valued at approximately $209,000. Private Advisor Group LLC acquired a new position in shares of Yelp during the second quarter valued at approximately $231,000. Finally, Concourse Capital Management LLC acquired a new position in shares of Yelp during the second quarter valued at approximately $278,000. 74.90% of the stock is owned by hedge funds and other institutional investors.
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.
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