Yelp Inc. (YELP) Rating Reiterated by Goldman Sachs Group, Inc. (The)
Yelp Inc. (NYSE:YELP)‘s stock had its “neutral” rating reaffirmed by research analysts at Goldman Sachs Group, Inc. (The) in a report issued on Wednesday. They presently have a $42.00 price target on the local business review company’s stock. Goldman Sachs Group, Inc. (The)’s price target would indicate a potential downside of 4.50% from the company’s current price.
A number of other brokerages have also weighed in on YELP. Cantor Fitzgerald lowered shares of Yelp from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $46.73 to $44.00 in a report on Monday. BidaskClub upgraded shares of Yelp from a “hold” rating to a “buy” rating in a report on Friday, October 6th. KeyCorp restated a “buy” rating and issued a $54.00 price objective on shares of Yelp in a report on Wednesday, October 4th. Bank of America Corporation boosted their price objective on shares of Yelp from $43.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, B. Riley restated a “hold” rating and issued a $36.00 price objective on shares of Yelp in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Yelp has an average rating of “Hold” and a consensus target price of $40.58.
Shares of Yelp (NYSE:YELP) traded down 0.95% during trading on Wednesday, reaching $43.98. Yelp has a 52 week low of $26.93 and a 52 week high of $46.76. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 278.35 and a beta of 1.34. The stock’s 50 day moving average price is $43.53 and its 200 day moving average price is $35.40.
Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.12. The firm had revenue of $209.90 million during the quarter, compared to analyst estimates of $204.89 million. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. Analysts expect that Yelp will post $0.07 earnings per share for the current fiscal year.
Yelp declared that its board has initiated a stock 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 reacquire up to 7.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
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In other Yelp news, COO Joseph R. Nachman sold 6,500 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $38.28, for a total transaction of $248,820.00. Following the transaction, the chief operating officer now owns 131,115 shares in the company, valued at approximately $5,019,082.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeremy Stoppelman sold 13,000 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $45.38, for a total transaction of $589,940.00. The disclosure for this sale can be found here. Insiders have sold a total of 226,610 shares of company stock worth $9,485,130 in the last 90 days. Company insiders own 10.10% of the company’s stock.
Several large investors have recently modified their holdings of YELP. Strs Ohio bought a new position in shares of Yelp in the 2nd quarter worth approximately $108,000. FNY Partners Fund LP lifted its stake in shares of Yelp by 18,650.0% in the 1st quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after purchasing an additional 3,730 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Yelp by 98.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after purchasing an additional 2,033 shares during the period. FNY Managed Accounts LLC bought a new position in shares of Yelp in the 1st quarter worth approximately $163,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of Yelp by 11.8% in the 1st quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock worth $202,000 after purchasing an additional 653 shares during the period. Hedge funds and other institutional investors own 90.85% of the company’s stock.
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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