Yelp Inc. (NYSE:YELP) had its price target hoisted by equities researchers at Credit Suisse Group from $48.00 to $51.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the local business review company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 9.16% from the company’s previous close.

Other research analysts 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 report 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 report on Friday, August 4th. SunTrust Banks, Inc. set a $51.00 price objective on shares of Yelp and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada upgraded shares of Yelp from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $36.00 to $55.00 in a research report on Thursday. Finally, J P Morgan Chase & Co reiterated a “buy” rating and issued a $52.00 price objective on shares of Yelp in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.15.

Yelp (NYSE:YELP) last posted its earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.30. The company had revenue of $222.40 million during the quarter, compared to the consensus estimate of $220.75 million. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share.

Yelp announced that its board has initiated a share buyback program on Thursday, August 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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In other Yelp news, insider Laurence Wilson sold 30,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $46.18, for a total value of $1,385,400.00. Following the sale, the insider now directly owns 187,739 shares of the company’s stock, valued at approximately $8,669,787.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $47.00, for a total transaction of $282,000.00. Following the completion of the sale, the director now directly owns 9,590 shares in the company, valued at $450,730. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 372,481 shares of company stock worth $15,994,350. 10.10% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in shares of Yelp in the 2nd quarter valued at approximately $108,000. Russell Investments Group Ltd. increased its position 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 valued at $123,000 after purchasing an additional 2,033 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Yelp in the 2nd quarter valued at approximately $205,000. ProShare Advisors LLC purchased a new stake in shares of Yelp in the 2nd quarter valued at approximately $215,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Yelp in the 2nd quarter valued at approximately $249,000. 89.28% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Yelp (NYSE:YELP)

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