Yelp (NYSE:YELP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
A number of other research firms also recently commented on YELP. Roth Capital upped their price objective on Yelp from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. KeyCorp set a $54.00 price objective on Yelp and gave the stock a “buy” rating in a report on Thursday, November 16th. Cantor Fitzgerald downgraded Yelp from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $46.73 to $44.00 in a report on Monday, October 9th. SunTrust Banks set a $51.00 price objective on Yelp and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, B. Riley restated a “hold” rating and set a $39.00 price objective on shares of Yelp in a report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.58.
Yelp (NYSE:YELP) last released its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.30. The business had revenue of $222.40 million during 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 revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. analysts expect that Yelp will post 0.17 EPS for the current year.
In other Yelp news, insider Alan Ramsay sold 592 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $46.92, for a total value of $27,776.64. Following the completion of the transaction, the insider now directly owns 20,048 shares of the company’s stock, valued at approximately $940,652.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Laurence Wilson sold 30,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $46.18, for a total transaction of $1,385,400.00. Following the completion of the transaction, the insider now directly owns 187,739 shares of the company’s stock, valued at $8,669,787.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,085 shares of company stock valued at $12,255,138. 10.10% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. FNY Managed Accounts LLC bought a new position in shares of Yelp during the third quarter worth about $100,000. Strs Ohio bought a new position in shares of Yelp during the second quarter worth about $108,000. Emerald Acquisition Ltd. bought a new position in shares of Yelp during the second quarter worth about $112,000. FNY Partners Fund LP lifted its position in shares of Yelp by 18,650.0% during the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after purchasing an additional 3,730 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Yelp by 98.8% during the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after purchasing an additional 2,033 shares during the last quarter. 85.59% of the stock is 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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