Zacks Investment Research Reaffirms “Hold” Rating for Yelp (YELP)
Yelp (NYSE:YELP)‘s stock had its “hold” rating reiterated by Zacks Investment Research in a report released on Saturday.
According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “
YELP has been the topic of several other reports. KeyCorp reaffirmed a “buy” rating and set a $54.00 target price on shares of Yelp in a report on Tuesday, October 17th. Cantor Fitzgerald reissued a “hold” rating and issued a $44.00 price objective on shares of Yelp in a research report on Wednesday, November 1st. B. Riley reissued a “hold” rating and issued a $39.00 price objective on shares of Yelp in a research report on Thursday, November 2nd. Credit Suisse Group reissued an “outperform” rating and issued a $48.00 price objective (up from $40.00) on shares of Yelp in a research report on Wednesday, October 18th. Finally, ValuEngine lowered Yelp from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.49.
Yelp (NYSE:YELP) last announced its earnings results on Wednesday, November 1st. The local business review company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. The firm had revenue of $222.40 million for the quarter, compared to the consensus estimate of $220.75 million. Yelp had a return on equity of 2.20% and a net margin of 2.31%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. equities analysts predict that Yelp will post 0.17 earnings per share for the current fiscal year.
In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $47.39, for a total transaction of $284,340.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $454,470.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $43.50, for a total value of $565,500.00. The disclosure for this sale can be found here. Insiders sold a total of 339,956 shares of company stock valued at $15,157,798 over the last ninety days. 10.10% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Ingalls & Snyder LLC increased its holdings in Yelp by 17.0% during the 3rd quarter. Ingalls & Snyder LLC now owns 97,521 shares of the local business review company’s stock worth $4,223,000 after purchasing an additional 14,171 shares in the last quarter. AHL Partners LLP bought a new stake in Yelp during the 2nd quarter worth approximately $2,292,000. Crestline Management LP bought a new stake in Yelp during the 3rd quarter worth approximately $1,209,000. Fox Run Management L.L.C. bought a new stake in Yelp during the 3rd quarter worth approximately $455,000. Finally, Flinton Capital Management LLC increased its holdings in Yelp by 39.1% during the 2nd quarter. Flinton Capital Management LLC now owns 8,704 shares of the local business review company’s stock worth $261,000 after purchasing an additional 2,448 shares in the last quarter. 85.69% of the stock is owned by hedge funds and other institutional investors.
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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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