Yelp Inc. (YELP) PT Set at $35.00 by Stifel Nicolaus
A number of other brokerages also recently issued reports on YELP. Cantor Fitzgerald reissued a buy rating and set a $46.00 price target on shares of Yelp in a research report on Friday, May 5th. Vetr raised Yelp from a hold rating to a buy rating and set a $36.94 price target on the stock in a research report on Wednesday, May 3rd. Maxim Group reissued a buy rating and set a $41.00 price target (down previously from $45.00) on shares of Yelp in a research report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) raised Yelp from a neutral rating to a buy rating and reduced their price target for the stock from $42.00 to $34.00 in a research report on Wednesday, May 10th. They noted that the move was a valuation call. Finally, Needham & Company LLC reissued a buy rating and set a $30.00 price target (down previously from $45.00) on shares of Yelp in a research report on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $37.25.
Shares of Yelp (NYSE YELP) opened at 41.73 on Friday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 563.92 and a beta of 1.48. Yelp has a 52 week low of $26.93 and a 52 week high of $43.41. The company has a 50-day moving average price of $31.06 and a 200 day moving average price of $33.37.
Yelp (NYSE:YELP) last announced its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.12. The company had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. Yelp had a return on equity of 1.64% and a net margin of 1.67%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. Analysts expect that Yelp will post $0.06 EPS for the current fiscal year.
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Yelp declared that its board has authorized a stock buyback program on Thursday, August 3rd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the local business review company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other news, COO Joseph R. Nachman sold 3,789 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total value of $106,963.47. Following the completion of the sale, the chief operating officer now directly owns 137,615 shares in the company, valued at approximately $3,884,871.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Laurence Wilson sold 3,128 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total value of $88,303.44. Following the completion of 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. Over the last three months, insiders sold 48,251 shares of company stock valued at $1,392,310. Corporate insiders own 10.10% of the company’s stock.
Several hedge funds have recently modified their holdings of YELP. Prudential Financial Inc. purchased a new stake in shares of Yelp during the second quarter valued at approximately $249,000. Parallel Advisors LLC increased its position in Yelp by 3.5% in the second quarter. Parallel Advisors LLC now owns 55,591 shares of the local business review company’s stock worth $1,808,000 after buying an additional 1,899 shares during the period. American Century Companies Inc. increased its position in Yelp by 46.3% in the second quarter. American Century Companies Inc. now owns 17,206 shares of the local business review company’s stock worth $517,000 after buying an additional 5,446 shares during the period. Marshall Wace LLP bought a new position in Yelp during the second quarter worth about $504,000. Finally, William Blair Investment Management LLC bought a new position in Yelp during the second quarter worth about $5,722,000. Institutional investors own 94.79% of the company’s stock.
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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