Yelp Inc. (YELP) Lifted to Hold at BidaskClub
BidaskClub upgraded shares of Yelp Inc. (NYSE:YELP) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
Several other equities research analysts have also recently issued reports on the company. Robert W. Baird reiterated a neutral rating on shares of Yelp in a report on Monday, July 3rd. Jefferies Group LLC reiterated a buy rating and issued a $37.00 price objective on shares of Yelp in a report on Friday, June 23rd. Zacks Investment Research lowered shares of Yelp from a hold rating to a sell rating in a research note on Wednesday, June 14th. Bank of America Corporation raised shares of Yelp from a neutral rating to a buy rating and raised their target price for the stock from $35.00 to $37.00 in a research note on Monday, June 5th. Finally, Cantor Fitzgerald set a $39.00 target price on shares of Yelp and gave the stock a buy rating in a research note on Wednesday, May 24th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and sixteen have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $35.15.
Shares of Yelp (NYSE:YELP) opened at 31.79 on Wednesday. Yelp has a 52-week low of $26.93 and a 52-week high of $43.41. The stock has a market capitalization of $2.56 billion, a P/E ratio of 429.59 and a beta of 1.46. The company has a 50 day moving average price of $29.25 and a 200-day moving average price of $34.46.
Yelp (NYSE:YELP) last posted its quarterly earnings data on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Yelp had a return on equity of 0.77% and a net margin of 0.80%. The company had revenue of $197.32 million for the quarter, compared to analysts’ expectations of $198.51 million. During the same period in the previous year, the firm posted $0.08 EPS. Yelp’s revenue was up 24.4% compared to the same quarter last year. On average, analysts predict that Yelp will post ($0.08) earnings per share for the current fiscal year.
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In other news, Director Geoffrey L. Donaker sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $27.65, for a total value of $110,600.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at $265,163.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph R. Nachman sold 3,789 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total transaction of $106,963.47. Following the completion of the sale, the chief operating officer now directly owns 137,615 shares of the company’s stock, valued at $3,884,871.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,751 shares of company stock valued at $1,940,715. Insiders own 10.10% of the company’s stock.
Several large investors have recently made changes to their positions in YELP. Vanguard Group Inc. boosted its position in Yelp by 11.2% in the first quarter. Vanguard Group Inc. now owns 5,703,608 shares of the local business review company’s stock valued at $186,793,000 after buying an additional 574,004 shares in the last quarter. BlackRock Inc. boosted its position in Yelp by 3,803.3% in the first quarter. BlackRock Inc. now owns 2,829,444 shares of the local business review company’s stock valued at $92,666,000 after buying an additional 2,756,955 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Yelp by 1,088.8% in the first quarter. Point72 Asset Management L.P. now owns 2,661,644 shares of the local business review company’s stock valued at $87,169,000 after buying an additional 2,437,744 shares in the last quarter. Fisher Asset Management LLC boosted its position in Yelp by 658.2% in the second quarter. Fisher Asset Management LLC now owns 2,459,293 shares of the local business review company’s stock valued at $73,828,000 after buying an additional 2,134,942 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its position in Yelp by 24.2% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,247,200 shares of the local business review company’s stock valued at $73,595,000 after buying an additional 437,820 shares in the last quarter. 89.18% of the stock is owned by institutional investors and hedge funds.
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 offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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