Yelp (YELP) Lowered to “Neutral” at Wedbush

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Wedbush cut shares of Yelp (NYSE:YELP) from an outperform rating to a neutral rating in a research note released on Friday, Marketbeat.com reports. Wedbush currently has $32.00 price objective on the local business review company’s stock, down from their previous price objective of $60.00.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Yelp from a hold rating to a buy rating and set a $52.00 target price on the stock in a report on Monday, August 27th. Jefferies Financial Group raised their target price on Yelp from $53.00 to $55.00 and gave the stock a buy rating in a report on Thursday, August 9th. SunTrust Banks set a $50.00 target price on Yelp and gave the stock a buy rating in a report on Wednesday, August 8th. Barclays raised their target price on Yelp from $47.00 to $48.00 and gave the stock an equal weight rating in a report on Thursday, August 9th. Finally, KeyCorp restated a hold rating on shares of Yelp in a report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. Yelp currently has a consensus rating of Hold and a consensus target price of $42.45.

YELP traded down $11.57 during midday trading on Friday, reaching $31.93. 25,345,839 shares of the company were exchanged, compared to its average volume of 1,450,994. Yelp has a one year low of $29.33 and a one year high of $52.50. The stock has a market cap of $3.75 billion, a P/E ratio of 498.22, a price-to-earnings-growth ratio of 7.52 and a beta of 1.29.

Yelp (NYSE:YELP) last issued its earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.09. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The firm had revenue of $241.10 million for the quarter, compared to analysts’ expectations of $245.55 million. During the same quarter last year, the business earned $0.29 earnings per share. The company’s revenue was up 8.0% compared to the same quarter last year. Equities analysts expect that Yelp will post 0.3 earnings per share for the current fiscal year.

In other news, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $48.22, for a total transaction of $192,880.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Geoffrey L. Donaker sold 2,000 shares of Yelp stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $46.96, for a total value of $93,920.00. Following the transaction, the director now owns 8,055 shares in the company, valued at approximately $378,262.80. The disclosure for this sale can be found here. Insiders have sold a total of 223,500 shares of company stock worth $10,135,885 in the last quarter. 9.00% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Trexquant Investment LP lifted its holdings in shares of Yelp by 3.7% during the 2nd quarter. Trexquant Investment LP now owns 39,659 shares of the local business review company’s stock valued at $1,554,000 after purchasing an additional 1,414 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Yelp by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,910 shares of the local business review company’s stock valued at $340,000 after purchasing an additional 1,646 shares in the last quarter. Amalgamated Bank raised its position in Yelp by 16.0% in the 2nd quarter. Amalgamated Bank now owns 12,383 shares of the local business review company’s stock valued at $485,000 after buying an additional 1,708 shares during the last quarter. Federated Investors Inc. PA raised its position in Yelp by 2.0% in the 2nd quarter. Federated Investors Inc. PA now owns 87,520 shares of the local business review company’s stock valued at $3,429,000 after buying an additional 1,758 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in Yelp by 7.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 26,363 shares of the local business review company’s stock valued at $1,033,000 after buying an additional 1,760 shares during the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.

Yelp Company Profile

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

Read More: Why do companies issue stock splits?

Analyst Recommendations for Yelp (NYSE:YELP)

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