Zacks Investment Research Lowers Yelp Inc. (YELP) to Sell
Yelp Inc. (NYSE:YELP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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 weighed in on the company. Pacific Crest raised Yelp from a “sector weight” rating to an “overweight” rating and boosted their price objective for the stock from $33.41 to $43.00 in a research note on Tuesday, April 11th. Roth Capital set a $28.00 price objective on Yelp and gave the stock a “sell” rating in a research note on Monday, March 27th. Wells Fargo & Company raised Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 price objective on the stock in a research note on Friday, May 5th. Vetr lowered Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 price objective on the stock. in a research note on Thursday, April 20th. Finally, Cowen and Company reissued a “market perform” rating and set a $39.00 price objective on shares of Yelp in a research note on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $35.42.
Yelp (NYSE YELP) traded down 1.30% during mid-day trading on Wednesday, reaching $30.32. The company had a trading volume of 1,491,505 shares. Yelp has a 52 week low of $26.19 and a 52 week high of $43.41. The stock has a 50 day moving average of $30.86 and a 200 day moving average of $35.02. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 409.73 and a beta of 1.66.
Yelp (NYSE:YELP) last released its quarterly earnings data on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. The company had revenue of $197.32 million for the quarter, compared to analyst estimates of $198.51 million. Yelp had a return on equity of 0.77% and a net margin of 0.80%. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. Analysts anticipate that Yelp will post ($0.08) earnings per share for the current year.
In related news, CFO Charles Baker sold 12,176 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total value of $343,728.48. Following the completion of the sale, the chief financial officer now directly owns 116,862 shares of the company’s stock, valued at approximately $3,299,014.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Laurence Wilson sold 3,128 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total value of $88,303.44. Following the completion of the sale, the senior vice president now directly owns 181,947 shares of the company’s stock, valued at $5,136,363.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,121 shares of company stock valued at $2,225,146. Insiders own 11.08% of the company’s stock.
Several hedge funds have recently made changes to their positions in YELP. FNY Managed Accounts LLC purchased a new stake in shares of Yelp during the third quarter worth about $100,000. Emerald Acquisition Ltd. purchased a new stake in shares of Yelp during the second quarter worth about $112,000. FNY Partners Fund LP boosted its stake in shares of Yelp by 18,650.0% in the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after buying an additional 3,730 shares during the period. Neuburgh Advisers LLC purchased a new stake in shares of Yelp during the first quarter worth about $133,000. Finally, Independent Portfolio Consultants Inc. purchased a new stake in shares of Yelp during the first quarter worth about $159,000. 90.75% 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 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.
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