Yelp Inc. (YELP) Price Target Raised to $43.00
Yelp Inc. (NYSE:YELP) had its target price hoisted by equities research analysts at Barclays PLC from $36.00 to $43.00 in a report issued on Thursday. The brokerage presently has an “equal weight” rating on the local business review company’s stock. Barclays PLC’s price objective points to a potential downside of 7.96% from the company’s current price.
Other equities analysts have also issued research reports about the stock. 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. B. Riley restated a “neutral” rating and set a $36.00 price target on shares of Yelp in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Yelp from a “hold” rating to a “strong-buy” rating and set a $54.00 price target for the company in a research report on Thursday. BidaskClub upgraded shares of Yelp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, KeyCorp restated a “buy” rating and set a $54.00 price target on shares of Yelp in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $43.15.
Yelp (NYSE:YELP) last released its earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.30. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The firm had revenue of $222.40 million during the quarter, compared to analyst estimates of $220.75 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year.
TRADEMARK VIOLATION WARNING: “Yelp Inc. (YELP) Price Target Raised to $43.00” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be read at https://www.americanbankingnews.com/2017/11/02/yelp-inc-yelp-price-target-raised-to-43-00.html.
In related news, SVP Laurence Wilson sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 191,947 shares in the company, valued at $8,061,774. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $47.00, for a total value of $282,000.00. Following the completion of the transaction, the director now owns 9,590 shares in the company, valued at approximately $450,730. The disclosure for this sale can be found here. Insiders sold 372,481 shares of company stock worth $15,994,350 in the last 90 days. 10.10% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. grew its holdings in Yelp by 46.0% during the first quarter. UBS Asset Management Americas Inc. now owns 53,227 shares of the local business review company’s stock valued at $1,743,000 after purchasing an additional 16,766 shares during the last quarter. Wellington Management Group LLP acquired a new position in Yelp during the first quarter valued at approximately $319,000. Legal & General Group Plc grew its holdings in Yelp by 165.1% during the first quarter. Legal & General Group Plc now owns 23,905 shares of the local business review company’s stock valued at $783,000 after purchasing an additional 14,889 shares during the last quarter. Vanguard Group Inc. grew its holdings in Yelp by 11.2% during the first quarter. Vanguard Group Inc. now owns 5,703,608 shares of the local business review company’s stock valued at $186,793,000 after purchasing an additional 574,004 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Yelp by 8.1% during the first quarter. Geode Capital Management LLC now owns 457,860 shares of the local business review company’s stock valued at $14,994,000 after purchasing an additional 34,269 shares during the last quarter. Hedge funds and other institutional investors own 89.28% 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.
Receive News & Ratings for Yelp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.