Royal Bank Of Canada upgraded shares of Yelp Inc. (NYSE:YELP) from a sector perform rating to an outperform rating in a research note published on Thursday, November 2nd, Marketbeat reports. They currently have $55.00 price target on the local business review company’s stock, up from their previous price target of $36.00.
Several other equities research analysts also recently weighed in on YELP. Roth Capital set a $21.00 target price on shares of Yelp and gave the stock a sell rating in a research note on Monday, July 31st. B. Riley reiterated a neutral rating and set a $36.00 price target on shares of Yelp in a research note on Friday, August 4th. Barclays PLC restated an equal weight rating and set a $36.00 price objective (up previously from $28.00) on shares of Yelp in a research report on Friday, August 4th. BidaskClub upgraded shares of Yelp from a sell rating to a hold rating in a report on Wednesday, July 12th. Finally, KeyCorp reiterated a buy rating and issued a $54.00 price target on shares of Yelp in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $43.37.
Yelp (NYSE YELP) traded up $0.01 on Thursday, reaching $45.91. 710,500 shares of the company’s stock were exchanged, compared to its average volume of 2,566,513. Yelp has a one year low of $26.93 and a one year high of $48.17. The stock has a market capitalization of $3,804.60, a PE ratio of 208.64, a price-to-earnings-growth ratio of 10.31 and a beta of 1.29.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.30. The firm had revenue of $222.40 million for the quarter, compared to analyst estimates of $220.75 million. Yelp had a net margin of 2.31% and a return on equity of 2.20%. Yelp’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. analysts predict that Yelp will post 0.17 EPS for the current year.
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Yelp announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the local business review company to repurchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, CFO Charles Baker sold 3,921 shares of the firm’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 transaction, the chief financial officer now owns 112,941 shares in the company, valued at $4,681,404.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Laurence Wilson sold 4,208 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $41.45, for a total value of $174,421.60. Following the completion of the transaction, the senior vice president now owns 177,739 shares in the company, valued at approximately $7,367,281.55. The disclosure for this sale can be found here. Insiders sold 300,481 shares of company stock worth $13,254,185 over the last quarter. Company insiders own 10.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in Yelp in the second quarter valued at approximately $108,000. Russell Investments Group Ltd. grew its stake in Yelp by 98.8% in the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after purchasing an additional 2,033 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Yelp by 28,585.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock valued at $174,000 after purchasing an additional 4,002 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in shares of Yelp during the 3rd quarter worth approximately $204,000. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Yelp during the 2nd quarter worth approximately $205,000. 87.69% of the stock is currently owned by institutional investors and hedge funds.
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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