Yelp Inc. (YELP) Stock Rating Reaffirmed by Morgan Stanley
Yelp Inc. (NYSE:YELP)‘s stock had its “equal weight” rating reaffirmed by Morgan Stanley in a note issued to investors on Thursday. They presently have a $26.00 target price on the local business review company’s stock, down from their previous target price of $28.00. Morgan Stanley’s price objective suggests a potential downside of 19.03% from the stock’s previous close.
A number of other research analysts have also issued reports on YELP. B. Riley reiterated a “neutral” rating and set a $25.00 price target on shares of Yelp in a research report on Monday, May 15th. BidaskClub upgraded Yelp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Loop Capital reiterated a “hold” rating on shares of Yelp in a research report on Wednesday, April 19th. William Blair reiterated a “market perform” rating on shares of Yelp in a research report on Wednesday, May 10th. Finally, Robert W. Baird reduced their price target on Yelp from $40.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 10th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.90.
Yelp (NYSE YELP) traded down 0.90% during midday trading on Thursday, reaching $32.11. The company’s stock had a trading volume of 1,316,883 shares. Yelp has a 1-year low of $26.93 and a 1-year high of $43.41. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 433.92 and a beta of 1.46. The company’s 50-day moving average price is $30.45 and its 200-day moving average price is $33.85.
Yelp (NYSE:YELP) last announced its quarterly earnings results on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. Yelp had a return on equity of 0.77% and a net margin of 0.80%. The company had revenue of $197.32 million during the quarter, compared to analyst estimates of $198.51 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. On average, analysts predict that Yelp will post ($0.08) earnings per share for the current fiscal year.
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In related news, SVP Laurence Wilson sold 3,128 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total transaction of $88,303.44. Following the completion of the sale, the senior vice president now owns 181,947 shares in the company, valued at approximately $5,136,363.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Charles Baker sold 12,176 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total value of $343,728.48. Following the sale, the chief financial officer now owns 116,862 shares of the company’s stock, valued at approximately $3,299,014.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,751 shares of company stock valued at $1,940,715. 10.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. FNY Partners Fund LP increased 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 valued at $122,000 after buying an additional 3,730 shares during the last quarter. Neuburgh Advisers LLC acquired a new stake in shares of Yelp during the first quarter valued at $133,000. Independent Portfolio Consultants Inc. acquired a new stake in shares of Yelp during the first quarter valued at $159,000. FNY Managed Accounts LLC acquired a new stake in shares of Yelp during the first quarter valued at $163,000. Finally, Tyers Asset Management LLC acquired a new stake in shares of Yelp during the first quarter valued at $169,000. Hedge funds and other institutional investors own 89.18% 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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