Yelp Inc. (NYSE:YELP) PT Raised to $43.00 at Jefferies Group LLC
Yelp Inc. (NYSE:YELP) had its target price hoisted by Jefferies Group LLC to $43.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the local business review company’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 7.37% from the stock’s previous close.
A number of other research firms also recently commented on YELP. Vetr downgraded Yelp from a “buy” rating to a “hold” rating and set a $36.94 target price for the company. in a research report on Thursday, April 27th. Cantor Fitzgerald reiterated a “buy” rating and set a $46.00 target price on shares of Yelp in a research report on Friday, May 5th. Wells Fargo & Company upgraded Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 target price for the company in a research report on Friday, May 5th. Piper Jaffray Companies lowered their target price on Yelp from $36.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, May 10th. Finally, Stifel Nicolaus lowered their target price on Yelp from $40.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, May 10th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.25.
Shares of Yelp (YELP) traded up 27.67% during trading on Friday, reaching $40.05. 16,906,184 shares of the company’s stock were exchanged. Yelp has a 12 month low of $26.93 and a 12 month high of $43.41. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 541.22 and a beta of 1.48. The stock has a 50-day moving average price of $31.06 and a 200 day moving average price of $33.37. Yelp also was the target of unusually large options trading on Thursday. Traders acquired 62,135 put options on the stock. This represents an increase of 1,632% compared to the average daily volume of 3,587 put options.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. Yelp had a return on equity of 1.64% and a net margin of 1.67%. The business had revenue of $209.90 million during the quarter, compared to the consensus estimate of $204.89 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, analysts forecast that Yelp will post ($0.08) EPS for the current year.
Yelp declared that its board has initiated a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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In other Yelp news, CFO Charles Baker sold 12,176 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total value of $343,728.48. Following the completion of the sale, the chief financial officer now owns 116,862 shares of the company’s stock, valued at $3,299,014.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $35.66, for a total value of $142,640.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $341,979.40. The disclosure for this sale can be found here. Insiders sold 52,251 shares of company stock worth $1,534,950 in the last quarter. 10.10% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Yelp during the second quarter valued at $108,000. 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 in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Yelp by 98.8% in the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after buying an additional 2,033 shares in the last quarter. Neuburgh Advisers LLC acquired a new stake in shares of Yelp during the first quarter valued at $133,000. Finally, Independent Portfolio Consultants Inc. acquired a new stake in shares of Yelp during the first quarter valued at $159,000. 92.20% of the stock is owned by institutional investors and hedge funds.
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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