Yelp Inc. (YELP) Receives Consensus Recommendation of “Hold” from Analysts
Yelp Inc. (NYSE:YELP) has earned a consensus rating of “Hold” from the thirty-seven analysts that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $35.42.
YELP has been the subject of several research reports. Pacific Crest raised shares of Yelp from a “sector weight” rating to an “overweight” rating and lifted their price target for the company from $33.41 to $43.00 in a research report on Tuesday, April 11th. Roth Capital set a $28.00 price target on shares of Yelp and gave the company a “sell” rating in a research report on Monday, March 27th. Wells Fargo & Company raised shares of Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 price target for the company in a research report on Friday, May 5th. Vetr downgraded shares of Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 price target for the company. in a research report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Yelp from a “neutral” rating to a “buy” rating and reduced their price target for the company from $42.00 to $34.00 in a research report on Wednesday, May 10th. They noted that the move was a valuation call.
Yelp (YELP) opened at 31.79 on Tuesday. The firm has a market cap of $2.56 billion, a PE ratio of 429.59 and a beta of 1.46. The stock has a 50 day moving average of $29.25 and a 200 day moving average of $34.46. Yelp has a 12-month low of $26.93 and a 12-month high of $43.41.
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, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $197.32 million during the quarter, compared to analyst estimates of $198.51 million. Yelp had a net margin of 0.80% and a return on equity of 0.77%. Yelp’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 business posted $0.08 EPS. On average, equities research analysts anticipate that Yelp will post ($0.08) EPS for the current fiscal year.
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In other Yelp news, COO Joseph R. Nachman sold 3,500 shares of Yelp stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $35.99, for a total value of $125,965.00. Following the sale, the chief operating officer now owns 141,404 shares of the company’s stock, valued at approximately $5,089,129.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $33.95, for a total value of $135,800.00. Following the completion of the sale, the director now directly owns 9,590 shares in the company, valued at approximately $325,580.50. The disclosure for this sale can be found here. Insiders sold a total of 63,751 shares of company stock worth $1,940,715 in the last 90 days. 10.10% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Yelp by 24.2% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,247,200 shares of the local business review company’s stock worth $73,595,000 after buying an additional 437,820 shares in the last quarter. Independent Portfolio Consultants Inc. acquired a new stake in shares of Yelp during the first quarter worth $159,000. Nationwide Fund Advisors acquired a new stake in shares of Yelp during the first quarter worth $4,608,000. Palisade Capital Management LLC NJ acquired a new stake in shares of Yelp during the first quarter worth $267,000. Finally, Macquarie Group Ltd. raised 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 worth $65,703,000 after buying an additional 794,636 shares in the last quarter. 89.18% of the stock is currently owned by 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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