Vetr upgraded shares of Yelp Inc. (NYSE:YELP) from a buy rating to a strong-buy rating in a research report released on Monday. Vetr currently has $43.15 price target on the local business review company’s stock.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Yelp from a hold rating to a buy rating and set a $33.00 target price for the company in a research note on Tuesday, July 12th. Mizuho upgraded Yelp from a neutral rating to a buy rating and raised their target price for the stock from $24.00 to $40.00 in a research note on Wednesday, August 10th. RBC Capital Markets restated an outperform rating and issued a $48.00 target price (up previously from $36.00) on shares of Yelp in a research note on Thursday, August 11th. Royal Bank Of Canada raised their target price on Yelp from $36.00 to $48.00 and gave the stock an outperform rating in a research note on Wednesday, August 10th. Finally, Citigroup Inc. downgraded Yelp from a buy rating to a neutral rating and raised their target price for the stock from $27.00 to $31.00 in a research note on Wednesday, July 20th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $36.03.
Shares of Yelp (NYSE:YELP) opened at 36.64 on Monday. The firm’s market capitalization is $2.83 billion. Yelp has a 12-month low of $14.53 and a 12-month high of $43.36. The stock has a 50 day moving average of $39.15 and a 200-day moving average of $30.49.
Yelp (NYSE:YELP) last announced its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 earnings per share for the quarter, topping the 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 company earned $173.40 million during the quarter, compared to analyst estimates of $169.82 million. During the same quarter last year, the firm posted $0.12 EPS. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, equities research analysts predict that Yelp will post ($0.19) EPS for the current fiscal year.
In related news, CEO Jeremy Stoppelman sold 263,000 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph R. Nachman sold 20,288 shares of the stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $42.99, for a total value of $872,181.12. Following the sale, the chief operating officer now owns 137,311 shares of the company’s stock, valued at approximately $5,902,999.89. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in YELP. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Yelp during the first quarter worth approximately $539,000. TIAA CREF Investment Management LLC raised its position in shares of 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 position in shares of 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 position in shares of 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 purchased a new position in shares of Yelp during the first quarter worth approximately $475,000. Hedge funds and other institutional investors own 74.84% of the company’s stock.
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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