Yelp Inc. (NYSE:YELP) Price Target Cut to $26.00 by Analysts at Morgan Stanley
Yelp Inc. (NYSE:YELP) had its price objective dropped by equities research analysts at Morgan Stanley from $28.00 to $26.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “equal weight” rating on the local business review company’s stock. Morgan Stanley’s price objective indicates a potential downside of 19.75% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Pacific Crest raised Yelp from a “sector weight” rating to an “overweight” rating and raised their price target for the stock from $33.41 to $43.00 in a report on Tuesday, April 11th. Roth Capital set a $28.00 price objective on Yelp and gave the company a “sell” rating in a report on Monday, March 27th. Wells Fargo & Company upgraded 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) upgraded 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. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Yelp has an average rating of “Hold” and a consensus target price of $34.90.
Shares of Yelp (NYSE YELP) traded down 1.46% on Thursday, reaching $32.40. The company had a trading volume of 1,966,704 shares. Yelp has a 12 month low of $26.93 and a 12 month high of $43.41. The firm’s 50 day moving average is $30.32 and its 200 day moving average is $33.86. The firm has a market capitalization of $2.61 billion, a PE ratio of 437.84 and a beta of 1.46.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $198.51 million. During the same period last year, the firm earned $0.08 earnings per share. Yelp’s quarterly revenue was up 24.4% on a year-over-year basis. On average, equities research analysts expect 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 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 transaction, the senior vice president now directly owns 181,947 shares in the company, valued at $5,136,363.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Geoffrey L. Donaker sold 4,000 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $33.95, for a total transaction of $135,800.00. Following the completion of the transaction, the director now owns 9,590 shares in the company, valued at $325,580.50. The disclosure for this sale can be found here. Insiders have sold 63,751 shares of company stock worth $1,940,715 over the last ninety days. Insiders own 10.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Yelp by 11.2% in the first quarter. Vanguard Group Inc. now owns 5,703,608 shares of the local business review company’s stock worth $186,793,000 after buying an additional 574,004 shares during the last quarter. BlackRock Inc. boosted 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 worth $92,666,000 after buying an additional 2,756,955 shares during the period. Point72 Asset Management L.P. boosted 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 worth $87,169,000 after buying an additional 2,437,744 shares during the period. Fisher Asset Management LLC boosted its position in Yelp by 658.2% in the second quarter. Fisher Asset Management LLC now owns 2,459,293 shares of the local business review company’s stock worth $73,828,000 after buying an additional 2,134,942 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its position in 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 during the period. 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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