BidaskClub downgraded shares of Yelp Inc. (NYSE:YELP) from a buy rating to a hold rating in a report published on Thursday.
Other research analysts also recently issued reports about the stock. Barclays PLC restated an equal weight rating and set a $36.00 target price (up from $28.00) on shares of Yelp in a research report on Friday, August 4th. B. Riley restated a neutral rating and set a $36.00 target price on shares of Yelp in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Yelp from a sell rating to a hold rating in a research report on Wednesday, May 17th. Royal Bank Of Canada upped their target price on shares of Yelp from $27.00 to $36.00 and gave the company a sector perform rating in a research report on Friday, August 4th. Finally, Cantor Fitzgerald set a $39.00 target price on shares of Yelp and gave the company a buy rating in a research report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nineteen have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $38.60.
Shares of Yelp (NYSE YELP) opened at 43.57 on Thursday. The company has a market capitalization of $3.56 billion, a P/E ratio of 275.76 and a beta of 1.41. The firm’s 50 day moving average is $40.93 and its 200-day moving average is $34.08. Yelp has a 52-week low of $26.93 and a 52-week high of $44.25.
Yelp (NYSE:YELP) last released its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The company had revenue of $209.90 million for the quarter, compared to the consensus estimate of $204.89 million. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts anticipate that Yelp will post $0.07 earnings per share for the current fiscal year.
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Yelp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 3rd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the local business review company to buy up to 7.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $30.27, for a total transaction of $121,080.00. Following the completion of the sale, 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 at the SEC website. Also, CFO Charles Baker sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $41.45, for a total value of $162,525.45. Following the sale, the chief financial officer now directly owns 112,941 shares of the company’s stock, valued at approximately $4,681,404.45. The disclosure for this sale can be found here. Insiders have sold a total of 182,240 shares of company stock valued at $7,381,629 in the last ninety days. Insiders own 10.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio acquired a new stake in shares of Yelp during the second quarter worth $108,000. FNY Partners Fund LP lifted its holdings in shares of Yelp by 18,650.0% during the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after buying an additional 3,730 shares in the last quarter. Neuburgh Advisers LLC acquired a new stake in shares of Yelp during the first quarter worth $133,000. Russell Investments Group Ltd. lifted its holdings in shares of Yelp by 98.8% during the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after buying an additional 2,033 shares in the last quarter. Finally, FNY Managed Accounts LLC acquired a new stake in shares of Yelp during the first quarter worth $163,000. 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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