Credit Suisse Group Analysts Give Yelp Inc. (YELP) a $40.00 Price Target
Yelp Inc. (NYSE:YELP) has been given a $40.00 price target by research analysts at Credit Suisse Group in a report released on Friday. The firm presently has a “buy” rating on the local business review company’s stock. Credit Suisse Group’s price target would suggest a potential downside of 0.12% from the company’s previous close.
A number of other research analysts have also recently commented on the company. Pacific Crest raised Yelp from a “sector weight” rating to an “overweight” rating and increased their target price for the company from $33.41 to $43.00 in a research note on Tuesday, April 11th. Wells Fargo & Company raised Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 target price on the stock in a research note on Friday, May 5th. Vetr cut Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 target price on the stock. in a research note on Thursday, April 20th. Jefferies Group LLC reissued a “buy” rating and issued a $37.00 target price on shares of Yelp in a research note on Friday, June 23rd. Finally, BidaskClub raised Yelp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eighteen have given a buy rating to the stock. Yelp has an average rating of “Hold” and a consensus price target of $37.25.
Shares of Yelp (NYSE YELP) traded up 27.67% during trading on Friday, hitting $40.05. The stock had a trading volume of 16,906,184 shares. Yelp has a 1-year low of $26.93 and a 1-year high of $43.41. The company has a market cap of $3.23 billion, a PE ratio of 541.22 and a beta of 1.48. The firm’s 50 day moving average is $31.06 and its 200 day moving average is $33.37. Yelp also was the target of some unusual options trading on Thursday. Stock traders bought 62,135 put options on the company. This is an increase of approximately 1,632% compared to the average volume of 3,587 put options.
Yelp (NYSE:YELP) last released its earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.12. The business had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. Yelp had a return on equity of 1.64% and a net margin of 1.67%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Equities research analysts anticipate that Yelp will post ($0.08) EPS for the current fiscal year.
Yelp declared that its Board of Directors has authorized a share repurchase program on Thursday, August 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the local business review company to repurchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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In related news, CFO Charles Baker sold 12,176 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 116,862 shares in the company, valued at approximately $3,299,014.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Laurence Wilson sold 3,128 shares of the business’s 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 transaction, the senior vice president now owns 181,947 shares of the company’s stock, valued at $5,136,363.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,251 shares of company stock valued at $1,534,950. 10.10% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in YELP. 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 worth $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 worth $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 worth $73,828,000 after buying an additional 2,134,942 shares during the last quarter. First Trust Advisors LP raised its position in shares of Yelp by 794.9% in the second quarter. First Trust Advisors LP now owns 1,930,508 shares of the local business review company’s stock worth $57,954,000 after buying an additional 1,714,785 shares during the last quarter. Finally, 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 worth $45,470,000 after buying an additional 1,096,446 shares during the last quarter. Institutional investors own 92.20% 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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