Zacks: Analysts Expect Yelp Inc. (YELP) Will Announce Quarterly Sales of $205.15 Million
Analysts forecast that Yelp Inc. (NYSE:YELP) will post $205.15 million in sales for the current fiscal quarter, according to Zacks. Fourteen analysts have made estimates for Yelp’s earnings, with the highest sales estimate coming in at $206.90 million and the lowest estimate coming in at $204.17 million. Yelp posted sales of $173.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.3%. The company is scheduled to report its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Yelp will report full year sales of $205.15 million for the current year, with estimates ranging from $851.53 million to $867.02 million. For the next year, analysts expect that the company will report sales of $1.01 billion per share, with estimates ranging from $949.70 million to $1.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Yelp.
Yelp (NYSE:YELP) last released its earnings results on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share (EPS) for the quarter, topping the 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%. Yelp’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS.
Several equities analysts recently commented on YELP shares. B. Riley restated a “neutral” rating and set a $25.00 target price on shares of Yelp in a research report on Wednesday, May 10th. Royal Bank Of Canada reduced their target price on Yelp from $46.00 to $29.00 and set a “market perform” rating for the company in a research report on Thursday, May 11th. Jefferies Group LLC restated a “buy” rating and set a $37.00 target price on shares of Yelp in a research report on Friday. Susquehanna Bancshares Inc restated a “neutral” rating and set a $22.00 target price (down from $35.00) on shares of Yelp in a research report on Friday, May 12th. Finally, Zacks Investment Research upgraded Yelp from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $35.26.
Yelp (YELP) traded up 3.07% during mid-day trading on Friday, reaching $30.88. The company had a trading volume of 9,222,368 shares. The stock has a market capitalization of $2.49 billion, a P/E ratio of 417.30 and a beta of 1.66. The stock has a 50 day moving average price of $30.15 and a 200-day moving average price of $34.76. Yelp has a 12-month low of $26.35 and a 12-month high of $43.41.
In other news, CFO Charles Baker sold 12,176 shares of Yelp 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 sale, the chief financial officer now directly owns 116,862 shares of the company’s stock, valued at $3,299,014.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $32.34, for a total value of $129,360.00. Following the completion of the sale, the director now directly owns 9,590 shares in the company, valued at $310,140.60. The disclosure for this sale can be found here. Insiders sold 71,121 shares of company stock worth $2,207,506 over the last ninety days. Insiders own 11.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YELP. BlackRock Inc. raised its position in Yelp by 3,803.3% in the first quarter. BlackRock Inc. now owns 2,829,444 shares of the local business review company’s stock valued at $92,666,000 after buying an additional 2,756,955 shares in the last quarter. Point72 Asset Management L.P. raised its position in Yelp by 1,088.8% in the first quarter. Point72 Asset Management L.P. now owns 2,661,644 shares of the local business review company’s stock valued at $87,169,000 after buying an additional 2,437,744 shares in the last quarter. Wells Fargo & Company MN raised its position in Yelp by 375.5% in the first quarter. Wells Fargo & Company MN now owns 1,388,422 shares of the local business review company’s stock valued at $45,470,000 after buying an additional 1,096,446 shares in the last quarter. Norges Bank bought a new position in Yelp during the fourth quarter valued at approximately $32,017,000. Finally, Clough Capital Partners L P raised its position in Yelp by 179.2% in the first quarter. Clough Capital Partners L P now owns 1,300,758 shares of the local business review company’s stock valued at $45,106,000 after buying an additional 834,929 shares in the last quarter. Institutional investors own 90.69% of the company’s stock.
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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