Yelp’s (YELP) Buy Rating Reiterated at KeyCorp

KeyCorp reaffirmed their buy rating on shares of Yelp Inc. (NYSE:YELP) in a report released on Wednesday, September 6th. KeyCorp currently has a $54.00 target price on the local business review company’s stock.

YELP has been the subject of a number of other research reports. B. Riley reaffirmed a neutral rating and issued a $25.00 price target on shares of Yelp in a report on Wednesday, May 10th. Royal Bank Of Canada reduced their price target on Yelp from $46.00 to $29.00 and set a market perform rating for the company in a report on Thursday, May 11th. Barclays PLC reaffirmed an equal weight rating and issued a $36.00 price target (up previously from $28.00) on shares of Yelp in a report on Friday, August 4th. Susquehanna Bancshares Inc reissued a neutral rating and set a $22.00 target price (down previously from $35.00) on shares of Yelp in a report on Friday, May 12th. Finally, Zacks Investment Research raised Yelp from a sell rating to a hold rating in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and nineteen have assigned a buy rating to the stock. Yelp presently has a consensus rating of Hold and a consensus price target of $38.60.

Yelp (NYSE YELP) opened at 43.57 on Wednesday. Yelp has a 1-year low of $26.93 and a 1-year high of $44.25. The company has a market cap of $3.56 billion, a P/E ratio of 275.76 and a beta of 1.41. The stock has a 50 day moving average price of $40.93 and a 200 day moving average price of $34.08.

Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The firm had revenue of $209.90 million for the quarter, compared to the consensus estimate of $204.89 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The company’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts anticipate that Yelp will post $0.07 EPS for the current fiscal year.

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Yelp declared that its board has initiated a share buyback program 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 buy up to 7.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $43.54, for a total value of $566,020.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Laurence Wilson sold 10,000 shares of Yelp stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $42.00, for a total value of $420,000.00. Following the completion of the sale, the senior vice president now directly owns 191,947 shares in the company, valued at approximately $8,061,774. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,240 shares of company stock worth $7,381,629. Corporate insiders own 10.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in YELP. Nationwide Fund Advisors purchased a new stake in shares of Yelp during the 1st quarter worth approximately $4,608,000. Wells Fargo & Company MN boosted its stake in shares of Yelp by 375.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,388,422 shares of the local business review company’s stock worth $45,470,000 after acquiring an additional 1,096,446 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Yelp by 85.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 246,800 shares of the local business review company’s stock worth $8,083,000 after acquiring an additional 113,400 shares in the last quarter. Tyers Asset Management LLC purchased a new stake in shares of Yelp during the 1st quarter worth approximately $169,000. Finally, Flinton Capital Management LLC purchased a new stake in shares of Yelp during the 1st quarter worth approximately $205,000. 90.90% of the stock is currently owned by institutional investors.

About Yelp

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.

Analyst Recommendations for Yelp (NYSE:YELP)

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