Yelp Inc. (YELP) Now Covered by Analysts at DA Davidson
DA Davidson began coverage on shares of Yelp Inc. (NYSE:YELP) in a research note published on Friday, Marketbeat reports. The brokerage issued a buy rating and a $51.00 target price on the local business review company’s stock.
A number of other equities analysts also recently commented on YELP. B. Riley restated a neutral rating and issued a $36.00 target price on shares of Yelp in a research note on Friday, August 4th. Cowen and Company restated a market perform rating and issued a $38.00 target price (up from $33.00) on shares of Yelp in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Yelp from a sell rating to a hold rating and set a $48.00 target price for the company in a research note on Tuesday, August 8th. Robert W. Baird restated a neutral rating and issued a $37.00 target price (up from $26.00) on shares of Yelp in a research note on Thursday, August 10th. Finally, Needham & Company LLC restated a buy rating and issued a $43.00 target price (up from $30.00) on shares of Yelp in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twenty have assigned a buy rating to the stock. Yelp presently has an average rating of Hold and a consensus price target of $38.95.
Shares of Yelp (NYSE:YELP) opened at 41.87 on Friday. Yelp has a 1-year low of $26.93 and a 1-year high of $44.25. The stock has a market capitalization of $3.43 billion, a P/E ratio of 265.00 and a beta of 1.41. The firm’s 50-day moving average price is $41.55 and its 200 day moving average price is $34.22.
Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.12. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The company had revenue of $209.90 million during the quarter, compared to the consensus estimate of $204.89 million. During the same period in the previous year, the firm posted $0.16 earnings per share. Yelp’s quarterly revenue was up 21.0% compared to the same quarter last year. Analysts expect that Yelp will post $0.07 EPS for the current fiscal year.
Yelp declared that its board has approved a stock repurchase plan on Thursday, August 3rd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 9,590 shares of the company’s stock, valued at approximately $287,604.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $43.49, for a total transaction of $565,370.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,240 shares of company stock worth $7,967,599. 10.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. acquired a new position in Yelp during the 2nd quarter worth $205,000. California State Teachers Retirement System lifted its position in Yelp by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 137,621 shares of the local business review company’s stock worth $4,131,000 after acquiring an additional 1,427 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Yelp by 314.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 44,413 shares of the local business review company’s stock worth $1,333,000 after acquiring an additional 33,693 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Yelp by 2,704.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,922 shares of the local business review company’s stock worth $1,798,000 after acquiring an additional 57,785 shares during the last quarter. Finally, Prescott General Partners LLC lifted its position in Yelp by 21.3% during the 2nd quarter. Prescott General Partners LLC now owns 3,851,774 shares of the local business review company’s stock worth $115,630,000 after acquiring an additional 676,251 shares during the last quarter. 90.85% of the stock is owned by hedge funds and other 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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