Brokers Offer Predictions for Yelp Inc.’s Q3 2024 Earnings (NYSE:YELP)

Yelp Inc. (NYSE:YELP) – Investment analysts at Zacks Research raised their Q3 2024 EPS estimates for shares of Yelp in a research report issued to clients and investors on Wednesday, April 17th. Zacks Research analyst R. Department now forecasts that the local business review company will earn $0.51 per share for the quarter, up from their prior forecast of $0.48. The consensus estimate for Yelp’s current full-year earnings is $1.53 per share. Zacks Research also issued estimates for Yelp’s FY2024 earnings at $1.45 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at $1.95 EPS.

Yelp (NYSE:YELP) last released its earnings results on Thursday, February 15th. The local business review company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $342.38 million for the quarter, compared to analyst estimates of $341.83 million. Yelp had a net margin of 7.42% and a return on equity of 14.06%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS.

Several other equities analysts have also weighed in on the company. StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 24th. Raymond James initiated coverage on shares of Yelp in a research report on Wednesday, March 27th. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.75.

Yelp Stock Down 0.4 %

NYSE:YELP opened at $39.40 on Friday. Yelp has a fifty-two week low of $26.53 and a fifty-two week high of $48.99. The firm’s 50 day moving average is $39.25 and its two-hundred day moving average is $42.59. The company has a market cap of $2.69 billion, a P/E ratio of 29.19 and a beta of 1.49.

Hedge Funds Weigh In On Yelp

Several hedge funds have recently made changes to their positions in YELP. Gladius Capital Management LP lifted its stake in Yelp by 10.8% in the fourth quarter. Gladius Capital Management LP now owns 2,835 shares of the local business review company’s stock valued at $134,000 after acquiring an additional 276 shares during the last quarter. Heron Bay Capital Management lifted its stake in Yelp by 2.0% in the fourth quarter. Heron Bay Capital Management now owns 14,506 shares of the local business review company’s stock valued at $687,000 after acquiring an additional 280 shares during the last quarter. Meritage Portfolio Management lifted its stake in Yelp by 2.2% in the fourth quarter. Meritage Portfolio Management now owns 14,121 shares of the local business review company’s stock valued at $668,000 after acquiring an additional 308 shares during the last quarter. Cim Investment Management Inc. lifted its stake in shares of Yelp by 3.6% in the first quarter. Cim Investment Management Inc. now owns 9,679 shares of the local business review company’s stock worth $297,000 after buying an additional 333 shares during the last quarter. Finally, Ronald Blue Trust Inc. boosted its holdings in shares of Yelp by 96.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 755 shares of the local business review company’s stock worth $31,000 after buying an additional 371 shares during the period. Institutional investors and hedge funds own 90.11% of the company’s stock.

Insiders Place Their Bets

In other Yelp news, CFO David A. Schwarzbach sold 2,750 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $40.63, for a total transaction of $111,732.50. Following the completion of the transaction, the chief financial officer now directly owns 258,848 shares of the company’s stock, valued at approximately $10,516,994.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Yelp news, CFO David A. Schwarzbach sold 2,750 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $40.63, for a total transaction of $111,732.50. Following the completion of the transaction, the chief financial officer now directly owns 258,848 shares of the company’s stock, valued at approximately $10,516,994.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joseph R. Nachman sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $38.83, for a total transaction of $232,980.00. Following the completion of the transaction, the chief operating officer now owns 312,502 shares in the company, valued at $12,134,452.66. The disclosure for this sale can be found here. Insiders sold a total of 14,750 shares of company stock valued at $613,213 in the last ninety days. Corporate insiders own 7.20% of the company’s stock.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.