Vetr upgraded shares of Yelp Inc. (NYSE:YELP) from a hold rating to a buy rating in a research report released on Monday. The firm currently has $43.08 target price on the local business review company’s stock.
Other equities analysts also recently issued research reports about the company. MKM Partners upgraded Yelp from a neutral rating to a buy rating and set a $40.00 price objective on the stock in a research report on Thursday, June 30th. Jefferies Group reiterated a buy rating and set a $28.00 price objective on shares of Yelp in a research report on Monday, June 27th. Needham & Company LLC reiterated a buy rating and set a $34.00 price objective (up previously from $28.00) on shares of Yelp in a research report on Thursday, June 23rd. Deutsche Bank AG upgraded Yelp from a hold rating to a buy rating and lifted their target price for the company from $26.00 to $33.00 in a research report on Monday, June 20th. Finally, Tigress Financial restated a buy rating on shares of Yelp in a research report on Tuesday, June 14th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $36.03.
Shares of Yelp (NYSE:YELP) opened at 41.17 on Monday. Yelp has a 52 week low of $14.53 and a 52 week high of $43.36. The company’s 50 day moving average price is $39.11 and its 200-day moving average price is $29.92. The stock’s market capitalization is $3.18 billion.
Yelp (NYSE:YELP) last announced its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.08. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The firm had revenue of $173.40 million for the quarter, compared to the consensus estimate of $169.82 million. During the same quarter last year, the business posted $0.12 earnings per share. The firm’s revenue was up 29.5% compared to the same quarter last year. Equities research analysts predict that Yelp will post ($0.19) EPS for the current year.
In other Yelp news, CEO Jeremy Stoppelman sold 263,000 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $40.00, for a total transaction of $10,520,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $28.99, for a total value of $173,940.00. Following the sale, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $173,940. The disclosure for this sale can be found here. Company insiders own 11.08% of the company’s stock.
A number of hedge funds have recently bought and sold shares of YELP. Emerald Acquisition Ltd. bought a new stake in Yelp during the second quarter valued at approximately $112,000. Legal & General Group Plc boosted its position in Yelp by 62.0% in the second quarter. Legal & General Group Plc now owns 5,742 shares of the local business review company’s stock valued at $174,000 after buying an additional 2,197 shares during the last quarter. IBM Retirement Fund acquired a new position in Yelp during the second quarter valued at about $209,000. Private Advisor Group LLC acquired a new position in Yelp during the second quarter valued at about $231,000. Finally, Concourse Capital Management LLC acquired a new position in Yelp during the second quarter valued at about $278,000. 74.90% of the stock is owned by hedge funds and other 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 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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