Yelp Inc. (YELP) Stock Rating Lowered by Zacks Investment Research
Yelp Inc. (NYSE:YELP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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 equities analysts have also commented on YELP. Cantor Fitzgerald restated a “buy” rating on shares of Yelp in a research note on Saturday, July 9th. B. Riley restated a “neutral” rating and set a $27.00 price objective on shares of Yelp in a research note on Monday, August 15th. Vetr raised Yelp from a “buy” rating to a “strong-buy” rating and set a $33.11 target price on the stock in a report on Wednesday, July 13th. Jefferies Group reaffirmed a “buy” rating on shares of Yelp in a report on Monday, July 11th. Finally, Axiom Securities raised Yelp from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, August 10th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $36.03.
Shares of Yelp (NYSE:YELP) opened at 37.51 on Wednesday. Yelp has a 12-month low of $14.53 and a 12-month high of $43.36. The company’s market cap is $2.90 billion. The company has a 50-day moving average price of $39.21 and a 200-day moving average price of $30.10.
Yelp (NYSE:YELP) last posted its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $173.40 million for the quarter, compared to analyst estimates of $169.82 million. During the same quarter last year, the company earned $0.12 EPS. The company’s revenue was up 29.5% on a year-over-year basis. On average, analysts predict that Yelp will post ($0.19) earnings per share for the current year.
In other news, COO Joseph R. Nachman sold 5,000 shares of the company’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $41.06, for a total value of $205,300.00. Following the transaction, the chief operating officer now owns 122,023 shares of the company’s stock, valued at $5,010,264.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $28.99, for a total transaction of $173,940.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $173,940. The disclosure for this sale can be found here. Company insiders own 11.08% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in YELP. Algert Global LLC purchased a new position in Yelp during the third quarter valued at $502,000. Macquarie Group Ltd. boosted its position in 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 last quarter. Public Employees Retirement System of Ohio boosted its position in 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 valued at $462,000 after buying an additional 1,971 shares during the last quarter. Personal Capital Advisors Corp boosted its position in 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 valued at $12,781,000 after buying an additional 58,034 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in 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 valued at $3,376,000 after buying an additional 3,576 shares during the last quarter. 74.90% of the stock is currently owned by hedge funds and other 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.
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