Yelp Inc (YELP) Rating Lowered to Buy at Vetr Inc.
Yelp Inc (NYSE:YELP) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday. They presently have a $36.94 target price on the local business review company’s stock. Vetr‘s price objective would suggest a potential upside of 10.50% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. MKM Partners reissued a “buy” rating and set a $48.00 price target on shares of Yelp in a report on Friday, December 23rd. Aegis reissued a “buy” rating on shares of Yelp in a report on Saturday, January 21st. Zacks Investment Research raised Yelp from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Saturday, January 14th. Royal Bank of Canada set a $55.00 price target on Yelp and gave the company a “buy” rating in a report on Monday, February 6th. Finally, Mizuho lowered their price target on Yelp from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $40.34.
Yelp (NYSE:YELP) traded up 1.83% during mid-day trading on Thursday, hitting $33.43. The stock had a trading volume of 1,743,618 shares. The firm’s 50-day moving average is $33.28 and its 200 day moving average is $36.63. Yelp has a 12 month low of $20.25 and a 12 month high of $43.41. The company’s market cap is $2.66 billion.
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Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, February 9th. The local business review company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.24. The firm had revenue of $194.50 million for the quarter, compared to analysts’ expectations of $194.51 million. Yelp had a negative return on equity of 0.01% and a negative net margin of 0.65%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. Equities analysts anticipate that Yelp will post $0.08 EPS for the current fiscal year.
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In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $32.47, for a total value of $129,880.00. Following the completion of the sale, the director now owns 9,590 shares of the company’s stock, valued at $311,387.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael Stoppelman sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 20th. The stock was sold at an average price of $40.90, for a total transaction of $204,500.00. Following the completion of the sale, the senior vice president now directly owns 125,431 shares of the company’s stock, valued at approximately $5,130,127.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,284 shares of company stock valued at $3,300,241. 11.08% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the company. Palisade Capital Management LLC NJ purchased a new stake in shares of Yelp during the first quarter valued at about $267,000. Macquarie Group Ltd. increased its stake in shares of Yelp by 85.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,723,136 shares of the local business review company’s stock valued at $65,703,000 after buying an additional 794,636 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Yelp by 48.2% in the fourth quarter. Teachers Advisors LLC now owns 423,099 shares of the local business review company’s stock valued at $16,133,000 after buying an additional 137,513 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in shares of Yelp by 1.3% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,600,817 shares of the local business review company’s stock valued at $61,039,000 after buying an additional 21,198 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Yelp during the fourth quarter valued at about $32,017,000. 74.24% of the stock is owned by institutional investors and hedge funds.
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 offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
To view Vetr’s full report, visit Vetr’s official website.
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