Q3 2024 EPS Estimates for Yelp Inc. Raised by Zacks Research (NYSE:YELP)

Yelp Inc. (NYSE:YELP) – Equities researchers at Zacks Research boosted their Q3 2024 earnings estimates for shares of Yelp in a note issued to investors on Wednesday, April 17th. Zacks Research analyst R. Department now expects that the local business review company will post earnings per share of $0.51 for the quarter, up from their previous forecast of $0.48. The consensus estimate for Yelp’s current full-year earnings is $1.53 per share. Zacks Research also issued estimates for Yelp’s FY2024 earnings at $1.45 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at $1.95 EPS.

Yelp (NYSE:YELP) last released its quarterly earnings data on Thursday, February 15th. The local business review company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Yelp had a net margin of 7.42% and a return on equity of 14.06%. The business had revenue of $342.38 million for the quarter, compared to analyst estimates of $341.83 million. During the same quarter last year, the firm earned $0.28 EPS. Yelp’s quarterly revenue was up 10.8% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on the company. Raymond James initiated coverage on Yelp in a research report on Wednesday, March 27th. They issued a “market perform” rating on the stock. StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Yelp has a consensus rating of “Hold” and a consensus target price of $41.75.

Yelp Price Performance

Yelp stock opened at $39.40 on Friday. The company’s 50 day simple moving average is $39.25 and its 200 day simple moving average is $42.59. Yelp has a fifty-two week low of $26.53 and a fifty-two week high of $48.99. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 29.19 and a beta of 1.49.

Institutional Investors Weigh In On Yelp

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Yelp by 6.7% in the third quarter. Vanguard Group Inc. now owns 9,253,025 shares of the local business review company’s stock valued at $313,770,000 after buying an additional 577,514 shares during the period. State Street Corp lifted its stake in Yelp by 4.9% during the third quarter. State Street Corp now owns 2,642,699 shares of the local business review company’s stock worth $89,614,000 after purchasing an additional 123,355 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Yelp by 18.2% during the third quarter. Acadian Asset Management LLC now owns 2,496,166 shares of the local business review company’s stock worth $103,789,000 after purchasing an additional 384,566 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Yelp by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,066,180 shares of the local business review company’s stock worth $63,430,000 after purchasing an additional 107,348 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Yelp by 2.1% during the first quarter. Macquarie Group Ltd. now owns 1,898,630 shares of the local business review company’s stock worth $58,288,000 after purchasing an additional 39,433 shares during the last quarter. 90.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $44.75, for a total transaction of $268,500.00. Following the transaction, the chief operating officer now owns 248,976 shares of the company’s stock, valued at $11,141,676. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO David A. Schwarzbach sold 2,750 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $40.63, for a total value of $111,732.50. Following the transaction, the chief financial officer now owns 258,848 shares of the company’s stock, valued at $10,516,994.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph R. Nachman sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $44.75, for a total value of $268,500.00. Following the completion of the transaction, the chief operating officer now directly owns 248,976 shares in the company, valued at approximately $11,141,676. The disclosure for this sale can be found here. Insiders have sold a total of 14,750 shares of company stock valued at $613,213 over the last 90 days. 7.20% of the stock is currently owned by insiders.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.