Vetr Inc. Upgrades Yelp Inc. (YELP) to “Buy”
Yelp Inc. (NYSE:YELP) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a $43.08 price target on the local business review company’s stock. Vetr‘s price target would indicate a potential upside of 9.15% from the company’s current price.
YELP has been the topic of several other reports. Macquarie increased their target price on Yelp from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, September 7th. Cantor Fitzgerald restated a “buy” rating on shares of Yelp in a research note on Friday, August 19th. MKM Partners restated a “buy” rating and issued a $48.00 price target (up from $40.00) on shares of Yelp in a research note on Thursday, August 25th. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target (up from $28.00) on shares of Yelp in a research note on Thursday, June 23rd. Finally, Mizuho raised their price target on Yelp from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.03.
Yelp (NYSE:YELP) opened at 39.47 on Monday. The company’s market capitalization is $3.05 billion. Yelp has a 52 week low of $14.53 and a 52 week high of $43.36. The firm has a 50-day moving average price of $39.15 and a 200-day moving average price of $29.99.
Yelp (NYSE:YELP) last issued its earnings results on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, beating 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 business had revenue of $173.40 million for the quarter, compared to the consensus estimate of $169.82 million. During the same period last year, the business posted $0.12 EPS. The company’s revenue was up 29.5% compared to the same quarter last year. Analysts anticipate that Yelp will post ($0.19) EPS for the current fiscal year.
In related news, SVP Michael Stoppelman sold 2,781 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $37.45, for a total value of $104,148.45. Following the completion of the transaction, the senior vice president now owns 131,948 shares of the company’s stock, valued at $4,941,452.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $30.61, for a total transaction of $183,660.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at approximately $183,660. The disclosure for this sale can be found here. 11.08% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. 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 worth $44,051,000 after buying an additional 22,868 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Yelp by 14.9% in the second quarter. Public Employees Retirement System of Ohio now owns 15,229 shares of the local business review company’s stock worth $462,000 after buying an additional 1,971 shares during the period. Personal Capital Advisors Corp increased its position in shares of Yelp by 16.0% in the second quarter. Personal Capital Advisors Corp now owns 420,991 shares of the local business review company’s stock worth $12,781,000 after buying an additional 58,034 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Yelp by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 111,168 shares of the local business review company’s stock worth $3,376,000 after buying an additional 3,576 shares during the period. Finally, Pine River Capital Management L.P. acquired a new position in shares of Yelp during the second quarter worth approximately $1,756,000. 74.90% of the stock is owned by institutional investors.
Yelp Company Profile
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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