Yelp Inc. (YELP) Expected to Post Quarterly Sales of $205.15 Million
Wall Street analysts expect Yelp Inc. (NYSE:YELP) to announce sales of $205.15 million for the current quarter, according to Zacks. Fourteen analysts have provided 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 would indicate a positive year-over-year growth rate of 18.3%. The company is expected to issue its next earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Yelp will report full-year sales of $205.15 million for the current financial year, with estimates ranging from $851.53 million to $867.02 million. For the next financial year, analysts forecast that the company will post sales of $1.01 billion per share, with estimates ranging from $949.70 million to $1.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Yelp.
Yelp (NYSE:YELP) last released its earnings results on Tuesday, May 9th. The local business review company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.02. The company had revenue of $197.32 million during the quarter, compared to analysts’ expectations 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 last year, the business posted $0.08 EPS.
YELP has been the subject of a number of analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $46.00 target price on shares of Yelp in a report on Friday, May 5th. Vetr upgraded Yelp from a “hold” rating to a “buy” rating and set a $36.94 target price for the company in a report on Wednesday, May 3rd. Maxim Group restated a “buy” rating and set a $41.00 target price (down previously from $45.00) on shares of Yelp in a report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) upgraded Yelp from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $42.00 to $34.00 in a report on Wednesday, May 10th. They noted that the move was a valuation call. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 target price (down previously from $45.00) on shares of Yelp in a report on Wednesday, May 10th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $35.15.
In other news, CFO Charles Baker sold 12,176 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total transaction of $343,728.48. Following the transaction, the chief financial officer now directly owns 116,862 shares in the company, valued at $3,299,014.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Laurence Wilson sold 3,128 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total transaction of $88,303.44. Following the transaction, the senior vice president now owns 181,947 shares in the company, valued at $5,136,363.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,751 shares of company stock valued at $1,940,715. 10.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of 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 during the last quarter. Point72 Asset Management L.P. raised its position in shares of 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 during the last quarter. Fisher Asset Management LLC raised its position in shares of 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 valued at $73,828,000 after buying an additional 2,134,942 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of 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 during the last quarter. Finally, Norges Bank bought a new position in shares of Yelp during the fourth quarter valued at $32,017,000. Institutional investors own 89.18% of the company’s stock.
Yelp (NYSE YELP) traded down 1.03% on Thursday, hitting $32.54. The stock had a trading volume of 829,577 shares. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 439.73 and a beta of 1.46. Yelp has a 1-year low of $26.93 and a 1-year high of $43.41. The stock’s 50-day moving average is $30.32 and its 200 day moving average is $33.86.
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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