Yelp Inc. (NYSE:YELP) had its target price hoisted by equities research analysts at Royal Bank Of Canada from $27.00 to $36.00 in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has a “sector perform” rating on the local business review company’s stock. Royal Bank Of Canada’s price target suggests a potential downside of 10.11% from the stock’s current price.

Several other brokerages also recently issued reports on YELP. Vetr downgraded Yelp from a “buy” rating to a “hold” rating and set a $36.94 price target for the company. in a report on Thursday, April 27th. Cantor Fitzgerald restated a “buy” rating and set a $46.00 target price on shares of Yelp in a research note 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 note 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 note 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 note on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.25.

Yelp (NYSE:YELP) traded up 27.67% on Friday, reaching $40.05. The company had a trading volume of 16,906,184 shares. The stock has a market capitalization of $3.23 billion, a P/E ratio of 541.22 and a beta of 1.48. The firm has a 50-day moving average of $31.06 and a 200-day moving average of $33.37. Yelp has a 12 month low of $26.93 and a 12 month high of $43.41. Yelp also was the recipient of some unusual options trading on Thursday. Investors purchased 62,135 put options on the stock. This represents an increase of 1,632% compared to the typical volume of 3,587 put options.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, beating the 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 firm 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 firm earned $0.16 EPS. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that Yelp will post ($0.08) earnings per share for the current fiscal year.

Yelp declared that its board has approved a share buyback plan on Thursday, August 3rd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the local business review company to buy up to 7.9% of its stock through open market purchases. Stock buyback 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, SVP Laurence Wilson sold 3,128 shares of Yelp 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 $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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $29.99, for a total transaction of $119,960.00. Following the completion of the transaction, the director now owns 9,590 shares in the company, valued at approximately $287,604.10. The disclosure for this sale can be found here. Insiders have sold 52,251 shares of company stock worth $1,534,950 in the last quarter. Company insiders own 10.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank raised its position in Yelp by 14.2% in the first quarter. Swiss National Bank now owns 129,264 shares of the local business review company’s stock valued at $4,233,000 after buying an additional 16,100 shares during the period. Independent Portfolio Consultants Inc. acquired a new position in Yelp during the first quarter valued at about $159,000. First Manhattan Co. acquired a new position in Yelp during the second quarter valued at about $11,158,000. TLP Group LLC acquired a new position in Yelp during the first quarter valued at about $383,000. Finally, California Public Employees Retirement System raised its position in Yelp by 95.8% in the first quarter. California Public Employees Retirement System now owns 225,800 shares of the local business review company’s stock valued at $8,015,000 after buying an additional 110,500 shares during the period. Hedge funds and other institutional investors own 92.20% of the company’s stock.

About Yelp

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.

Analyst Recommendations for Yelp (NYSE:YELP)

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