Piper Jaffray Companies Reiterates “Hold” Rating for Yelp Inc. (YELP)
Yelp Inc. (NYSE:YELP)‘s stock had its “hold” rating reiterated by stock analysts at Piper Jaffray Companies in a report released on Friday. They presently have a $38.00 price objective on the local business review company’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 17.52% from the stock’s current price.
A number of other equities research analysts have also weighed in on the company. Roth Capital raised Yelp from a “sell” rating to a “neutral” rating and boosted their target price for the company from $21.00 to $35.00 in a research note on Friday, August 4th. Credit Suisse Group set a $40.00 target price on Yelp and gave the company a “buy” rating in a research note on Friday, August 4th. Robert W. Baird reissued a “neutral” rating and issued a $37.00 target price (up previously from $26.00) on shares of Yelp in a research note on Thursday, August 10th. BidaskClub raised Yelp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, KeyCorp reissued a “buy” rating and issued a $54.00 target price on shares of Yelp in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Yelp has a consensus rating of “Buy” and an average target price of $43.37.
Yelp (YELP) traded up $0.09 during mid-day trading on Friday, reaching $46.07. 1,550,000 shares of the company’s stock were exchanged, compared to its average volume of 1,597,790. Yelp has a 52 week low of $26.93 and a 52 week high of $48.17. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 209.00, a PEG ratio of 25.00 and a beta of 1.29.
Yelp (NYSE:YELP) last posted its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.30. Yelp had a return on equity of 2.26% and a net margin of 2.31%. The firm had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $220.75 million. During the same period in the prior year, the business earned $0.22 EPS. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. analysts anticipate that Yelp will post 0.07 earnings per share for the current fiscal year.
Yelp declared that its board has authorized a stock repurchase plan on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In related news, CFO Charles Baker sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total value of $162,525.45. Following the transaction, the chief financial officer now directly owns 112,941 shares of the company’s stock, valued at approximately $4,681,404.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction 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 directly owns 9,590 shares in the company, valued at $450,730. The disclosure for this sale can be found here. Insiders have sold a total of 310,981 shares of company stock worth $13,545,530 over the last three months. Insiders own 10.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Global X MANAGEMENT CO LLC raised its holdings in Yelp by 16.1% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 100,927 shares of the local business review company’s stock worth $4,370,000 after purchasing an additional 13,983 shares during the period. Swiss National Bank raised its holdings in Yelp by 3.1% in the 3rd quarter. Swiss National Bank now owns 128,064 shares of the local business review company’s stock worth $5,545,000 after purchasing an additional 3,900 shares during the period. IPG Investment Advisors LLC bought a new position in Yelp in the 3rd quarter worth $743,000. Principal Financial Group Inc. raised its holdings in Yelp by 29.6% in the 3rd quarter. Principal Financial Group Inc. now owns 14,013 shares of the local business review company’s stock worth $607,000 after purchasing an additional 3,204 shares during the period. Finally, Smith Asset Management Group LP bought a new position in Yelp in the 3rd quarter worth $1,382,000. 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.
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