Yelp Inc. (YELP) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Yelp Inc. (NYSE:YELP) from a hold rating to a buy rating in a research report report published on Thursday. They currently have $47.00 price target on the local business review company’s stock.
According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “
A number of other brokerages also recently issued reports on YELP. Vetr upgraded shares of Yelp from a hold rating to a buy rating and set a $42.74 price target for the company in a report on Monday, October 3rd. Macquarie increased their price target on shares of Yelp from $39.00 to $46.00 and gave the company an outperform rating in a report on Wednesday, September 7th. Cantor Fitzgerald reiterated a buy rating and issued a $42.00 price target on shares of Yelp in a report on Tuesday, September 27th. Maxim Group increased their price target on shares of Yelp from $42.00 to $45.00 and gave the company a buy rating in a report on Monday, September 26th. Finally, Jefferies Group reiterated a buy rating and issued a $42.00 price target on shares of Yelp in a report on Tuesday, September 6th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the stock. Yelp presently has a consensus rating of Hold and an average price target of $36.03.
Yelp (NYSE:YELP) opened at 39.47 on Thursday. The firm’s market capitalization is $3.05 billion. Yelp has a 12-month low of $14.53 and a 12-month high of $43.36. The firm has a 50-day moving average of $39.15 and a 200 day moving average of $29.99.
Yelp (NYSE:YELP) last announced its quarterly earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.08. The business earned $173.40 million during the quarter, compared to the consensus estimate of $169.82 million. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The business’s revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 EPS. On average, equities analysts predict that Yelp will post ($0.19) EPS for the current year.
In other Yelp news, COO Joseph R. Nachman sold 20,288 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $42.99, for a total transaction of $872,181.12. Following the completion of the sale, the chief operating officer now owns 137,311 shares in the company, valued at $5,902,999.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeremy Stoppelman sold 263,000 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $40.00, for a total transaction of $10,520,000.00. The disclosure for this sale can be found here. Company insiders own 11.08% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. UBS Group AG increased its position in shares of Yelp by 107.1% in the first quarter. UBS Group AG now owns 31,436 shares of the local business review company’s stock valued at $625,000 after buying an additional 474,072 shares during the period. Fisher Asset Management LLC increased its position in shares of Yelp by 2.8% in the second quarter. Fisher Asset Management LLC now owns 391,351 shares of the local business review company’s stock valued at $11,670,000 after buying an additional 10,486 shares during the period. Geduld E E purchased a new position in shares of Yelp during the second quarter valued at about $304,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Yelp during the first quarter valued at about $364,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Yelp during the first quarter valued at about $475,000. 74.90% of the stock is owned by institutional investors.
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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