Yelp (YELP) Downgraded to Hold at Deutsche Bank

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Deutsche Bank downgraded shares of Yelp (NYSE:YELP) from a buy rating to a hold rating in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has $34.00 target price on the local business review company’s stock, down from their prior target price of $64.00.

A number of other research firms also recently weighed in on YELP. Stifel Nicolaus upped their target price on Yelp from $40.00 to $42.00 and gave the company a hold rating in a research report on Thursday, August 9th. Zacks Investment Research downgraded Yelp from a buy rating to a hold rating in a research report on Friday, September 28th. KeyCorp reiterated a hold rating on shares of Yelp in a research report on Thursday, August 9th. JPMorgan Chase & Co. upped their target price on Yelp to $57.00 and gave the company an overweight rating in a research report on Thursday, August 9th. Finally, Barclays upped their target price on Yelp from $47.00 to $48.00 and gave the company an equal weight rating in a research report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $42.45.

Shares of NYSE:YELP traded down $11.57 during trading on Friday, reaching $31.93. 25,345,839 shares of the company traded hands, compared to its average volume of 1,450,994. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 498.22, a PEG ratio of 7.52 and a beta of 1.29. Yelp has a 52 week low of $29.33 and a 52 week high of $52.50.

Yelp (NYSE:YELP) last released its earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The firm had revenue of $241.10 million during the quarter, compared to the consensus estimate of $245.55 million. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. On average, analysts expect that Yelp will post 0.3 EPS for the current fiscal year.

In other news, Director Geoffrey L. Donaker sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $43.94, for a total transaction of $175,760.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $43.98, for a total value of $571,740.00. The disclosure for this sale can be found here. Insiders have sold a total of 223,500 shares of company stock valued at $10,135,885 in the last three months. 9.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board increased its holdings in Yelp by 203.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 111,200 shares of the local business review company’s stock worth $4,357,000 after purchasing an additional 74,500 shares in the last quarter. Tenzing Global Management LLC increased its holdings in Yelp by 4.0% in the 2nd quarter. Tenzing Global Management LLC now owns 650,000 shares of the local business review company’s stock worth $25,467,000 after purchasing an additional 25,000 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Yelp by 0.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,131,550 shares of the local business review company’s stock worth $55,672,000 after purchasing an additional 3,785 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Yelp by 5,612.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 36,157 shares of the local business review company’s stock worth $1,418,000 after purchasing an additional 35,524 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Yelp by 7.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 26,363 shares of the local business review company’s stock worth $1,033,000 after purchasing an additional 1,760 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

About Yelp

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

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Analyst Recommendations for Yelp (NYSE:YELP)

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