Barclays PLC Reiterates Equal Weight Rating for Yelp Inc. (NYSE:YELP)
Yelp Inc. (NYSE:YELP)‘s stock had its “equal weight” rating restated by equities research analysts at Barclays PLC in a note issued to investors on Friday. They currently have a $36.00 price objective on the local business review company’s stock, up from their previous price objective of $28.00. Barclays PLC’s price objective suggests a potential downside of 10.11% from the stock’s previous close.
YELP has been the topic of several other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Yelp in a report on Monday, April 10th. Morgan Stanley restated an “equal weight” rating and set a $26.00 price objective (down previously from $28.00) on shares of Yelp in a report on Thursday, July 20th. MKM Partners upgraded shares of Yelp from a “neutral” rating to a “buy” rating and set a $31.31 price objective on the stock in a report on Friday. J P Morgan Chase & Co restated an “overweight” rating and set a $46.00 price objective on shares of Yelp in a report on Friday. They noted that the move was a valuation call. Finally, Royal Bank Of Canada lowered their price objective on shares of Yelp from $46.00 to $29.00 and set a “market perform” rating on the stock in a report on Thursday, May 11th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $37.25.
Shares of Yelp (YELP) traded up 27.67% during midday trading on Friday, reaching $40.05. 16,906,184 shares of the company’s stock traded hands. The company has a 50 day moving average of $31.06 and a 200 day moving average of $33.37. The firm has a market cap of $3.23 billion, a PE ratio of 541.22 and a beta of 1.48. Yelp has a 52-week low of $26.93 and a 52-week high of $43.41. Yelp also was the target of unusually large options trading activity on Thursday. Stock investors purchased 62,135 put options on the stock. This is an increase of 1,632% compared to the typical daily volume of 3,587 put options.
Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.64%. The business had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. During the same period in the prior year, the firm earned $0.16 earnings per share. Yelp’s revenue was up 21.0% on a year-over-year basis. On average, equities analysts predict that Yelp will post ($0.08) EPS for the current fiscal year.
Yelp declared that its board has approved a share repurchase plan on Thursday, August 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $29.99, for a total transaction of $119,960.00. Following the completion of the sale, the director now directly owns 9,590 shares in the company, valued at $287,604.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Laurence Wilson sold 3,128 shares of Yelp stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total transaction of $88,303.44. Following the sale, the senior vice president now owns 181,947 shares of the company’s stock, valued at $5,136,363.81. The disclosure for this sale can be found here. Insiders sold 52,251 shares of company stock valued at $1,534,950 over the last 90 days. 10.10% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Capital Fund Management S.A. raised its stake in shares of Yelp by 852.6% in the first quarter. Capital Fund Management S.A. now owns 335,272 shares of the local business review company’s stock valued at $10,980,000 after buying an additional 300,076 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Yelp by 192.1% in the first quarter. Daiwa Securities Group Inc. now owns 194,846 shares of the local business review company’s stock valued at $6,381,000 after buying an additional 128,131 shares during the last quarter. Flinton Capital Management LLC bought a new stake in shares of Yelp during the first quarter valued at about $205,000. Tyers Asset Management LLC bought a new stake in shares of Yelp during the first quarter valued at about $169,000. Finally, Millie Capital Management LLC raised its stake in shares of Yelp by 1.2% in the first quarter. Millie Capital Management LLC now owns 64,378 shares of the local business review company’s stock valued at $2,108,000 after buying an additional 775 shares during the last quarter. Institutional investors and hedge funds own 92.20% of the company’s stock.
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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