Yelp Inc. (YELP) Raised to Hold at Zacks Investment Research
Yelp Inc. (NYSE:YELP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “
Several other analysts also recently commented on the company. Pacific Crest upgraded Yelp from a “sector weight” rating to an “overweight” rating and raised their target price for the company from $33.41 to $43.00 in a research note on Tuesday, April 11th. 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. Vetr downgraded Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 target price for the company. in a research note on Thursday, April 20th. Jefferies Group LLC restated a “buy” rating and issued a $37.00 target price on shares of Yelp in a research note on Friday, June 23rd. Finally, BidaskClub upgraded Yelp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $37.25.
Yelp (NYSE YELP) traded up 0.4318% on Tuesday, reaching $41.9102. The company’s stock had a trading volume of 2,535,476 shares. The company has a market cap of $3.38 billion, a P/E ratio of 566.3540 and a beta of 1.48. Yelp has a 12 month low of $26.93 and a 12 month high of $43.41. The stock’s 50 day moving average price is $31.06 and its 200 day moving average price is $33.37.
Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. The company had revenue of $209.90 million during the quarter, compared to the consensus estimate of $204.89 million. Yelp had a return on equity of 1.64% and a net margin of 1.67%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the business posted $0.16 EPS. Equities research analysts forecast that Yelp will post $0.06 earnings per share for the current year.
Yelp declared that its board has approved a share repurchase plan on Thursday, August 3rd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the local business review company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, COO Joseph R. Nachman sold 3,789 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total transaction of $106,963.47. Following the completion of the transaction, the chief operating officer now directly owns 137,615 shares in the company, valued at approximately $3,884,871.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Geoffrey L. Donaker sold 4,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $29.99, for a total transaction of $119,960.00. Following the transaction, the director now owns 9,590 shares of the company’s stock, valued at $287,604.10. The disclosure for this sale can be found here. Insiders have sold a total of 48,251 shares of company stock valued at $1,392,310 over the last 90 days. Company insiders own 10.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in YELP. Strs Ohio purchased a new position in Yelp during the second quarter worth approximately $108,000. FNY Partners Fund LP raised its position in 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 worth $122,000 after buying an additional 3,730 shares during the period. Neuburgh Advisers LLC purchased a new position in Yelp during the first quarter worth approximately $133,000. Russell Investments Group Ltd. raised its position in 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 worth $123,000 after buying an additional 2,033 shares during the period. Finally, Independent Portfolio Consultants Inc. purchased a new position in Yelp during the first quarter worth approximately $159,000. Hedge funds and other institutional investors own 94.79% of the company’s stock.
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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