Robert W. Baird Increases Yelp Inc. (YELP) Price Target to $44.00
Yelp Inc. (NYSE:YELP) had its price objective upped by stock analysts at Robert W. Baird from $37.00 to $44.00 in a report released on Friday. The firm presently has a “neutral” rating on the local business review company’s stock. Robert W. Baird’s price objective points to a potential downside of 4.49% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Jefferies Group LLC increased their price objective on shares of Yelp from $37.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and set a $43.00 price objective (up previously from $30.00) on shares of Yelp in a research report on Friday, August 4th. MKM Partners raised shares of Yelp from a “neutral” rating to a “buy” rating and upped their target price for the company from $27.00 to $31.31 in a report on Friday, August 4th. Credit Suisse Group set a $40.00 target price on shares of Yelp and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $45.00 target price (up from $36.00) on shares of Yelp in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.37.
Shares of Yelp (NYSE:YELP) traded up $0.09 during trading on Friday, reaching $46.07. 1,660,000 shares of the company were exchanged, compared to its average volume of 1,597,790. The company has a market capitalization of $3,768.66, a P/E ratio of 209.41, a price-to-earnings-growth ratio of 25.05 and a beta of 1.29. Yelp has a 12 month low of $26.93 and a 12 month high of $48.17.
Yelp (NYSE:YELP) last issued its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.30. The company had revenue of $222.40 million for the quarter, compared to the consensus estimate of $220.75 million. Yelp had a net margin of 2.31% and a return on equity of 2.26%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 earnings per share. analysts predict that Yelp will post 0.14 EPS for the current year.
Yelp announced that its board has initiated a stock buyback program on Thursday, August 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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In related news, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $47.00, for a total value of $282,000.00. Following the transaction, the director now owns 9,590 shares of the company’s stock, valued at approximately $450,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Charles Baker sold 3,921 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total transaction of $162,525.45. Following the completion of the transaction, the chief financial officer now directly owns 112,941 shares in the company, valued at approximately $4,681,404.45. The disclosure for this sale can be found here. Insiders sold a total of 310,981 shares of company stock valued at $13,545,530 in the last 90 days. Company insiders own 10.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Amalgamated Bank increased its stake in Yelp by 0.9% in the 2nd quarter. Amalgamated Bank now owns 9,993 shares of the local business review company’s stock worth $300,000 after buying an additional 88 shares during the period. Pier 88 Investment Partners LLC increased its stake in Yelp by 1.7% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 17,580 shares of the local business review company’s stock worth $528,000 after buying an additional 300 shares during the period. California State Teachers Retirement System increased its stake in Yelp by 1.0% in the 2nd quarter. California State Teachers Retirement System now owns 137,621 shares of the local business review company’s stock worth $4,131,000 after buying an additional 1,427 shares during the period. Parallel Advisors LLC increased its stake in Yelp by 3.5% in the 2nd quarter. Parallel Advisors LLC now owns 55,591 shares of the local business review company’s stock worth $1,808,000 after buying an additional 1,899 shares during the period. Finally, Menta Capital LLC increased its stake in Yelp by 10.6% in the 2nd quarter. Menta Capital LLC now owns 19,900 shares of the local business review company’s stock worth $597,000 after buying an additional 1,900 shares during the period. 89.28% of the stock is currently owned by institutional investors.
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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