Vetr upgraded shares of Yelp Inc. (NYSE:YELP) from a hold rating to a buy rating in a research note published on Monday. They currently have $42.74 price target on the local business review company’s stock.
A number of other analysts have also recently commented on YELP. Cantor Fitzgerald reaffirmed a buy rating on shares of Yelp in a report on Saturday, July 9th. B. Riley reissued a neutral rating and issued a $27.00 price objective on shares of Yelp in a research note on Monday, August 15th. Jefferies Group reissued a buy rating on shares of Yelp in a research note on Monday, July 11th. Mizuho raised shares of Yelp from a neutral rating to a buy rating and increased their price objective for the stock from $24.00 to $40.00 in a research note on Wednesday, August 10th. Finally, Axiom Securities raised shares of Yelp from a hold rating to a buy rating and set a $44.00 price objective for the company in a research note on Wednesday, August 10th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $35.61.
Shares of Yelp (NYSE:YELP) opened at 41.84 on Monday. Yelp has a 12-month low of $14.53 and a 12-month high of $41.94. The stock’s 50 day moving average is $38.55 and its 200-day moving average is $29.14. The company’s market capitalization is $3.24 billion.
Yelp (NYSE:YELP) last announced its earnings results on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.08. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The business earned $173.40 million during the quarter, compared to analysts’ expectations of $169.82 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was up 29.5% on a year-over-year basis. Analysts anticipate that Yelp will post ($0.19) earnings per share for the current year.
In other news, COO Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $29.38, for a total transaction of $176,280.00. Following the completion of the sale, the chief operating officer now owns 6,000 shares of the company’s stock, valued at $176,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Stoppelman sold 2,781 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $37.45, for a total transaction of $104,148.45. Following the sale, the senior vice president now directly owns 131,948 shares of the company’s stock, valued at approximately $4,941,452.60. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in YELP. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Yelp during the first quarter worth about $539,000. TIAA CREF Investment Management LLC raised its stake in Yelp by 1.7% in the first quarter. TIAA CREF Investment Management LLC now owns 195,107 shares of the local business review company’s stock worth $3,879,000 after buying an additional 3,310 shares during the last quarter. BlackRock Inc. raised its stake in Yelp by 10.0% in the first quarter. BlackRock Inc. now owns 78,658 shares of the local business review company’s stock worth $1,564,000 after buying an additional 7,175 shares during the last quarter. BlackRock Group LTD raised its stake in Yelp by 0.4% in the first quarter. BlackRock Group LTD now owns 179,547 shares of the local business review company’s stock worth $3,569,000 after buying an additional 654 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Yelp during the first quarter worth about $475,000. 74.90% of the stock is owned by institutional investors and hedge funds.
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 provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.
To view Vetr’s full report, visit Vetr’s official website.
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