Yelp’s (YELP) “Buy” Rating Reaffirmed at Needham & Company LLC
Yelp Inc. (NYSE:YELP)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a note issued to investors on Friday, MarketBeat reports.
Several other equities analysts have also recently commented on YELP. B. Riley reaffirmed a “neutral” rating and set a $25.00 price target on shares of Yelp in a research report on Monday, May 15th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $46.00 price target on shares of Yelp in a research report on Friday. They noted that the move was a valuation call. Jefferies Group LLC increased their price target on shares of Yelp to $43.00 and gave the stock a “buy” rating in a research report on Friday. Roth Capital set a $21.00 price target on shares of Yelp and gave the stock a “sell” rating in a research report on Monday, July 31st. Finally, BidaskClub cut shares of Yelp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eighteen have assigned a buy rating to the company. Yelp has an average rating of “Hold” and a consensus price target of $37.25.
Yelp (NYSE YELP) traded up 27.67% during mid-day trading on Friday, hitting $40.05. The stock had a trading volume of 16,906,184 shares. The company has a 50-day moving average of $31.06 and a 200-day moving average of $33.37. The firm has a market cap of $3.23 billion, a PE ratio of 541.22 and a beta of 1.48. Yelp has a 12-month low of $26.93 and a 12-month high of $43.41. Yelp also was the target of unusually large options trading activity on Thursday. Stock investors bought 62,135 put options on the stock. This is an increase of approximately 1,632% compared to the average volume of 3,587 put options.
Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.64%. The business had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. During the same quarter last year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. Analysts expect that Yelp will post ($0.08) earnings per share for the current year.
Yelp declared that its board has approved 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 reacquire up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
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In related news, SVP Laurence Wilson sold 3,128 shares of the firm’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 $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 approximately $5,136,363.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $35.66, for a total transaction of $142,640.00. Following the completion of the transaction, 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 a total of 52,251 shares of company stock valued at $1,534,950 in the last ninety days. Company insiders own 10.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised 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 in the last quarter. Point72 Asset Management L.P. raised 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 in the last quarter. Fisher Asset Management LLC raised 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 in the last quarter. First Trust Advisors LP raised its position in 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 in the last quarter. Finally, Wells Fargo & Company MN raised its position in 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 in the last quarter. 92.20% of the stock is owned by hedge funds and other institutional investors.
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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