Yelp Inc (NYSE:YELP) – William Blair reduced their Q1 2018 EPS estimates for Yelp in a research note issued on Wednesday. William Blair analyst R. Schackart now forecasts that the local business review company will post earnings per share of ($0.07) for the quarter, down from their prior estimate of ($0.05). William Blair also issued estimates for Yelp’s Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.16 EPS and FY2018 earnings at $0.23 EPS.
A number of other equities analysts have also issued reports on YELP. Zacks Investment Research lowered Yelp from a “hold” rating to a “sell” rating in a research note on Saturday. KeyCorp set a $54.00 price target on Yelp and gave the company a “buy” rating in a research note on Thursday. Bank of America decreased their price target on Yelp from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley decreased their price target on Yelp from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Credit Suisse Group decreased their price target on Yelp from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.46.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Yelp by 28,585.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock valued at $174,000 after purchasing an additional 4,002 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Yelp by 46.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,240 shares of the local business review company’s stock valued at $178,000 after purchasing an additional 1,337 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Yelp in the third quarter valued at $204,000. Turner Investments LLC purchased a new stake in shares of Yelp in the third quarter valued at $217,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Yelp in the third quarter valued at $222,000. Institutional investors own 86.09% of the company’s stock.
In other news, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $45.40, for a total value of $590,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan Ramsay sold 592 shares of the stock in a transaction 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 completion of the sale, 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. Over the last three months, insiders have sold 257,085 shares of company stock valued at $11,338,738. Corporate insiders own 10.10% of the company’s stock.
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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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