Yelp Inc (YELP) Earns Buy Rating from Aegis

Aegis restated their buy rating on shares of Yelp Inc (NYSE:YELP) in a research note released on Wednesday morning.

Several other equities analysts have also weighed in on the stock. Cantor Fitzgerald reaffirmed an overweight rating and set a $46.00 price objective on shares of Yelp in a research report on Monday, February 6th. Vetr raised shares of Yelp from a buy rating to a strong-buy rating and set a $44.28 price target on the stock in a research report on Monday, January 9th. Royal Bank of Canada dropped their price target on shares of Yelp from $55.00 to $49.00 and set an outperform rating on the stock in a research report on Friday, February 10th. Robert W. Baird reissued a neutral rating on shares of Yelp in a research report on Thursday, January 12th. Finally, Credit Suisse Group AG set a $49.00 price target on shares of Yelp and gave the company a buy rating in a research report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Yelp presently has a consensus rating of Buy and a consensus price target of $40.59.

Yelp (NYSE:YELP) opened at 34.65 on Wednesday. The stock has a 50 day moving average of $36.52 and a 200-day moving average of $37.63. Yelp has a 52-week low of $18.65 and a 52-week high of $43.41. The company’s market capitalization is $2.76 billion.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, February 9th. The local business review company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.24. The firm had revenue of $194.50 million for the quarter, compared to analyst estimates of $194.51 million. Yelp had a negative net margin of 0.65% and a negative return on equity of 0.01%. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. On average, equities analysts forecast that Yelp will post $0.08 earnings per share for the current year.

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In other news, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $40.00, for a total value of $520,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Geoffrey L. Donaker sold 26,000 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $40.00, for a total transaction of $1,040,000.00. Following the completion of the sale, the director now owns 26,000 shares in the company, valued at approximately $1,040,000. The disclosure for this sale can be found here. Insiders sold a total of 165,284 shares of company stock worth $6,686,751 in the last 90 days. 11.08% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of YELP. Allianz Asset Management AG increased its position in shares of Yelp by 32.5% in the fourth quarter. Allianz Asset Management AG now owns 2,557,984 shares of the local business review company’s stock valued at $97,536,000 after buying an additional 626,934 shares during the period. EastBay Asset Management LLC increased its position in shares of Yelp by 33.3% in the fourth quarter. EastBay Asset Management LLC now owns 2,447,689 shares of the local business review company’s stock valued at $93,328,000 after buying an additional 611,127 shares during the period. Criterion Capital Management LLC increased its position in shares of Yelp by 68.0% in the third quarter. Criterion Capital Management LLC now owns 1,817,516 shares of the local business review company’s stock valued at $75,790,000 after buying an additional 735,863 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Yelp by 13.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,691,992 shares of the local business review company’s stock valued at $70,556,000 after buying an additional 202,399 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Yelp by 1.6% in the second quarter. Macquarie Group Ltd. now owns 1,450,951 shares of the local business review company’s stock valued at $44,051,000 after buying an additional 22,868 shares during the period. Institutional investors and hedge funds own 74.24% of the company’s stock.

About Yelp

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.

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