Yelp’s (YELP) “Neutral” Rating Reiterated at Robert W. Baird
Yelp Inc. (NYSE:YELP)‘s stock had its “neutral” rating reissued by Robert W. Baird in a note issued to investors on Thursday. They currently have a $37.00 price objective on the local business review company’s stock, up from their previous price objective of $26.00. Robert W. Baird’s price target points to a potential downside of 10.95% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. UBS AG reissued a “sell” rating and issued a $30.00 price target (up previously from $28.00) on shares of Yelp in a research note on Wednesday. B. Riley reissued a “neutral” rating and issued a $36.00 price target on shares of Yelp in a research note on Wednesday. Cowen and Company reissued a “market perform” rating and issued a $38.00 price target (up previously from $33.00) on shares of Yelp in a research note on Wednesday. Zacks Investment Research raised Yelp from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $37.00 price target on shares of Yelp in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $37.89.
Yelp (NYSE YELP) opened at 41.55 on Thursday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 561.49 and a beta of 1.48. The company has a 50-day moving average of $31.40 and a 200-day moving average of $33.39. Yelp has a 52-week low of $26.93 and a 52-week high of $43.41.
Yelp (NYSE:YELP) last released its quarterly 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 return on equity of 1.64% and a net margin of 1.67%. The company had revenue of $209.90 million during the quarter, compared to analysts’ expectations of $204.89 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities research analysts expect that Yelp will post $0.06 EPS for the current year.
Yelp announced that its board has authorized a share buyback program on Thursday, August 3rd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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In related news, SVP Laurence Wilson sold 3,128 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total value of $88,303.44. Following the transaction, the senior vice president now directly owns 181,947 shares of the company’s stock, valued at approximately $5,136,363.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Geoffrey L. Donaker sold 42,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $40.00, for a total value of $1,680,000.00. Following the completion of the transaction, the director now directly owns 47,590 shares in the company, valued at $1,903,600. The disclosure for this sale can be found here. Insiders have sold a total of 109,751 shares of company stock valued at $3,841,130 over the last ninety days. Company insiders own 10.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of YELP. Vanguard Group Inc. increased its position in shares of 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 worth $186,793,000 after buying an additional 574,004 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Yelp by 38.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,116,090 shares of the local business review company’s stock worth $93,545,000 after buying an additional 868,890 shares during the last quarter. BlackRock Inc. increased its position in shares of 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 worth $92,666,000 after buying an additional 2,756,955 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of 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 worth $87,169,000 after buying an additional 2,437,744 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of 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 worth $73,828,000 after buying an additional 2,134,942 shares during the last quarter. 94.79% of the stock is currently owned by institutional investors and hedge funds.
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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