Yelp Inc. (YELP) Downgraded by BidaskClub
Yelp Inc. (NYSE:YELP) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.
Other equities analysts have also recently issued research reports about the stock. B. Riley reiterated a “neutral” rating and issued a $36.00 price objective on shares of Yelp in a research note on Friday, August 4th. Barclays PLC reiterated an “equal weight” rating and issued a $36.00 price objective (up previously from $28.00) on shares of Yelp in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Yelp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Royal Bank Of Canada increased their price objective on shares of Yelp from $27.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. Finally, Cantor Fitzgerald set a $39.00 price objective on shares of Yelp and gave the stock a “buy” rating in a research note on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $38.60.
Shares of Yelp (NYSE:YELP) traded down 0.77% during mid-day trading on Thursday, reaching $42.62. 141,516 shares of the company’s stock traded hands. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 269.75 and a beta of 1.41. The firm’s 50 day moving average price is $40.01 and its 200-day moving average price is $33.88. Yelp has a 12-month low of $26.93 and a 12-month high of $44.25.
Yelp (NYSE:YELP) last posted its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 1.67% and a return on equity of 1.60%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. Equities research analysts forecast that Yelp will post $0.07 earnings per share for the current year.
Yelp declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $29.83, for a total transaction of $119,320.00. Following the completion of the sale, the director now directly owns 9,590 shares in the company, valued at $286,069.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Laurence Wilson sold 10,000 shares of Yelp stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $42.00, for a total value of $420,000.00. Following the sale, the senior vice president now owns 191,947 shares of the company’s stock, valued at $8,061,774. The disclosure for this sale can be found here. Insiders have sold 169,240 shares of company stock valued at $6,815,609 over the last ninety days. 10.10% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Yelp by 4.1% during the second quarter. Vanguard Group Inc. now owns 5,935,362 shares of the local business review company’s stock worth $178,180,000 after purchasing an additional 231,754 shares during the last quarter. BlackRock Inc. lifted its position in shares of Yelp by 84.9% during the second quarter. BlackRock Inc. now owns 5,232,684 shares of the local business review company’s stock worth $157,084,000 after purchasing an additional 2,403,240 shares during the last quarter. Prescott General Partners LLC lifted its position in shares of Yelp by 21.3% during the second quarter. Prescott General Partners LLC now owns 3,851,774 shares of the local business review company’s stock worth $115,630,000 after purchasing an additional 676,251 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of Yelp by 38.7% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,116,090 shares of the local business review company’s stock worth $93,545,000 after purchasing an additional 868,890 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Yelp by 1,088.8% during 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 purchasing an additional 2,437,744 shares during the last quarter. Institutional investors and hedge funds own 90.90% 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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