Yelp Inc (NYSE:YELP) – Analysts at Jefferies Group reduced their FY2018 EPS estimates for Yelp in a research report issued to clients and investors on Thursday. Jefferies Group analyst B. Thill now anticipates that the local business review company will post earnings of $0.27 per share for the year, down from their previous forecast of $0.47.
A number of other research analysts also recently weighed in on YELP. Morgan Stanley lowered their target price on Yelp from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday. Zacks Investment Research downgraded Yelp from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus decreased their price objective on Yelp from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday. SunTrust Banks set a $50.00 price objective on Yelp and gave the stock a “buy” rating in a research note on Thursday. Finally, Bank of America decreased their price objective on Yelp from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eighteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.46.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YELP. Northern Trust Corp grew its holdings in Yelp by 171.3% during the 2nd quarter. Northern Trust Corp now owns 968,313 shares of the local business review company’s stock valued at $29,069,000 after buying an additional 611,461 shares in the last quarter. State Street Corp grew its holdings in Yelp by 64.2% during the 2nd quarter. State Street Corp now owns 1,477,939 shares of the local business review company’s stock valued at $44,365,000 after buying an additional 577,743 shares in the last quarter. BlackRock Inc. grew its holdings in Yelp by 10.4% during the 4th quarter. BlackRock Inc. now owns 5,533,628 shares of the local business review company’s stock valued at $232,190,000 after buying an additional 521,218 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Yelp by 17.7% during the 3rd quarter. Fisher Asset Management LLC now owns 2,893,867 shares of the local business review company’s stock valued at $125,304,000 after buying an additional 434,574 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its holdings in Yelp by 857.2% during the 4th quarter. Douglas Lane & Associates LLC now owns 306,356 shares of the local business review company’s stock valued at $12,855,000 after buying an additional 274,350 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.
In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $44.37, for a total transaction of $576,810.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alan Ramsay sold 592 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $46.92, for a total value of $27,776.64. Following the transaction, the insider now owns 20,048 shares of the company’s stock, valued at approximately $940,652.16. The disclosure for this sale can be found here. Insiders have sold 257,085 shares of company stock valued at $11,338,738 in the last quarter. 10.10% of the stock is currently owned by company insiders.
ILLEGAL ACTIVITY NOTICE: “Yelp Inc to Post FY2018 Earnings of $0.27 Per Share, Jefferies Group Forecasts (YELP)” was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2018/02/12/yelp-inc-to-post-fy2018-earnings-of-0-27-per-share-jefferies-group-forecasts-yelp.html.
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.
Receive News & Ratings for Yelp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp and related companies with MarketBeat.com's FREE daily email newsletter.