Wedbush Brokers Reduce Earnings Estimates for Yelp Inc (YELP)

Yelp Inc (NYSE:YELP) – Research analysts at Wedbush decreased their Q1 2018 earnings estimates for Yelp in a note issued to investors on Thursday. Wedbush analyst A. Turner now forecasts that the local business review company will post earnings of ($0.06) per share for the quarter, down from their prior estimate of $0.05. Wedbush also issued estimates for Yelp’s Q2 2018 earnings at $0.11 EPS, Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.14 EPS, Q1 2019 earnings at $0.10 EPS, Q2 2019 earnings at $0.16 EPS, Q3 2019 earnings at $0.20 EPS and Q4 2019 earnings at $0.21 EPS.

A number of other research analysts have also issued reports on the company. Zacks Investment Research lowered Yelp from a “hold” rating to a “sell” rating in a research report on Saturday. KeyCorp set a $54.00 target price on Yelp and gave the company a “buy” rating in a research report on Thursday. Bank of America decreased their target price on Yelp from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley decreased their target price on Yelp from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Credit Suisse Group decreased their target price on Yelp from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eighteen have given a buy rating to the stock. Yelp presently has a consensus rating of “Hold” and an average price target of $43.46.

Yelp (NYSE YELP) opened at $38.29 on Monday. Yelp has a 52-week low of $26.93 and a 52-week high of $48.40. The stock has a market capitalization of $3,173.82, a P/E ratio of 22.26, a PEG ratio of 3.51 and a beta of 1.14.

In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $41.09, for a total value of $246,540.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $394,053.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan Ramsay sold 592 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $46.92, for a total value of $27,776.64. Following the completion of the sale, the insider now directly owns 20,048 shares of the company’s stock, valued at $940,652.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 257,085 shares of company stock valued at $11,338,738. 10.10% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. increased its stake in shares of Yelp by 28,585.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock worth $174,000 after acquiring an additional 4,002 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Yelp by 46.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,240 shares of the local business review company’s stock worth $178,000 after acquiring an additional 1,337 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Yelp in the 3rd quarter worth $204,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Yelp during the 2nd quarter worth about $205,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Yelp during the 2nd quarter worth about $215,000. 86.09% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Yelp (NYSE:YELP)

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