Cantor Fitzgerald cut shares of Yelp Inc. (NYSE:YELP) from an overweight rating to a neutral rating in a research note published on Monday morning, MarketBeat Ratings reports. Cantor Fitzgerald currently has $44.00 price target on the local business review company’s stock, down from their previous price target of $46.73.
Other equities analysts have also recently issued reports about the company. Barclays PLC reissued an equal weight rating and set a $36.00 target price (up from $28.00) on shares of Yelp in a research note on Friday, August 4th. B. Riley reissued a neutral rating and set a $36.00 target price on shares of Yelp in a research note on Friday, August 4th. Royal Bank Of Canada boosted their target price on Yelp from $27.00 to $36.00 and gave the company a sector perform rating in a research note on Friday, August 4th. Zacks Investment Research raised Yelp from a sell rating to a hold rating and set a $48.00 target price on the stock in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC boosted their target price on Yelp from $37.00 to $43.00 and gave the company a buy rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and eighteen have issued a buy rating to the company. Yelp has an average rating of Hold and an average target price of $40.58.
Shares of Yelp (YELP) opened at 43.75 on Monday. The stock’s 50 day moving average is $43.57 and its 200 day moving average is $35.46. The firm has a market cap of $3.58 billion, a P/E ratio of 276.90 and a beta of 1.34. Yelp has a 12 month low of $26.93 and a 12 month high of $46.76.
Yelp (NYSE:YELP) last posted its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts expect that Yelp will post $0.07 EPS for the current year.
Yelp announced that its Board of Directors has approved a share repurchase program on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $45.55, for a total value of $273,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles Baker sold 3,921 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total value of $162,525.45. Following the completion of the sale, the chief financial officer now 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. In the last 90 days, insiders sold 232,610 shares of company stock valued at $9,758,430. Company insiders own 10.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new stake in Yelp in the second quarter worth about $108,000. FNY Partners Fund LP grew its position 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 purchasing an additional 3,730 shares in the last quarter. Russell Investments Group Ltd. grew its position 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 purchasing an additional 2,033 shares in the last quarter. FNY Managed Accounts LLC purchased a new stake in shares of Yelp during the first quarter worth about $163,000. Finally, Teacher Retirement System of Texas grew its position in shares of Yelp by 11.8% during the first quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock worth $202,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds own 90.85% of the company’s stock.
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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