Yelp Inc. (YELP) Stock Rating Lowered by BidaskClub
Yelp Inc. (NYSE:YELP) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.
Several other research analysts have also recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and set a $26.00 price target (down from $28.00) on shares of Yelp in a report on Thursday, July 20th. Jefferies Group LLC restated a “buy” rating and set a $37.00 price target on shares of Yelp in a report on Friday, June 23rd. Zacks Investment Research cut shares of Yelp from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Bank of America Corporation upgraded shares of Yelp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $37.00 in a report on Monday, June 5th. Finally, Robert W. Baird restated a “neutral” rating on shares of Yelp in a report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nineteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.60.
Shares of Yelp (NYSE YELP) opened at 43.57 on Thursday. Yelp has a 12-month low of $26.93 and a 12-month high of $44.25. The firm’s 50-day moving average price is $40.93 and its 200-day moving average price is $34.08. The firm has a market capitalization of $3.56 billion, a P/E ratio of 275.76 and a beta of 1.41.
Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. During the same period in the previous year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts predict that Yelp will post $0.07 earnings per share for the current fiscal year.
Yelp declared that its Board of Directors has approved a share buyback program on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the local business review company to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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In other news, Director Geoffrey L. Donaker sold 4,000 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $30.27, for a total value of $121,080.00. Following the transaction, the director now owns 9,590 shares of the company’s stock, valued at approximately $290,289.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $43.54, for a total transaction of $566,020.00. The disclosure for this sale can be found here. Insiders sold a total of 182,240 shares of company stock worth $7,381,629 in the last three months. Insiders own 10.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in YELP. Nationwide Fund Advisors purchased a new stake in shares of Yelp in the 1st quarter valued at $4,608,000. Bank of New York Mellon Corp boosted its stake in shares of Yelp by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 235,974 shares of the local business review company’s stock valued at $7,727,000 after purchasing an additional 9,350 shares in the last quarter. Swiss National Bank boosted its stake in shares of Yelp by 14.2% in the 1st quarter. Swiss National Bank now owns 129,264 shares of the local business review company’s stock valued at $4,233,000 after purchasing an additional 16,100 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Yelp by 46.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 53,227 shares of the local business review company’s stock valued at $1,743,000 after purchasing an additional 16,766 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Yelp in the 1st quarter valued at $290,000. 90.90% of the stock is owned by 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 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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