Cowen and Company reissued their market perform rating on shares of Yelp Inc (NYSE:YELP) in a research note published on Wednesday. The brokerage currently has a $38.00 target price on the local business review company’s stock, up from their prior target price of $33.00.
Other equities analysts also recently issued reports about the company. B. Riley restated a neutral rating and issued a $25.00 target price on shares of Yelp in a research note on Wednesday, May 10th. Royal Bank Of Canada cut their price target on Yelp from $46.00 to $29.00 and set a market perform rating on the stock in a report on Thursday, May 11th. Barclays PLC reaffirmed an equal weight rating and set a $36.00 price target (up previously from $28.00) on shares of Yelp in a report on Friday, August 4th. Susquehanna Bancshares Inc reaffirmed a neutral rating and set a $22.00 price target (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. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $37.95.
Shares of Yelp (YELP) opened at 42.03 on Wednesday. The stock has a market capitalization of $3.44 billion, a P/E ratio of 266.01 and a beta of 1.48. The firm’s 50-day moving average price is $33.08 and its 200 day moving average price is $33.42. Yelp has a 1-year low of $26.93 and a 1-year high of $43.41.
Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.12. Yelp had a return on equity of 3.54% and a net margin of 3.63%. The company had revenue of $209.90 million during the quarter, compared to the consensus estimate of $204.89 million. During the same period in the previous year, the firm posted $0.16 earnings per share. Yelp’s quarterly revenue was up 21.0% compared to the same quarter last year. Analysts expect that Yelp will post $0.07 EPS for the current fiscal year.
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Yelp declared that its board has approved a stock repurchase plan 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 purchase up to 7.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, SVP Laurence Wilson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $42.00, for a total transaction of $420,000.00. Following the transaction, the senior vice president now directly owns 191,947 shares in the company, valued at approximately $8,061,774. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Geoffrey L. Donaker sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $28.90, for a total transaction of $115,600.00. Following the transaction, the director now owns 9,590 shares in the company, valued at $277,151. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,751 shares of company stock worth $4,261,130. 10.10% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new stake in Yelp during the second quarter valued at about $108,000. FNY Partners Fund LP raised its stake in Yelp by 18,650.0% in the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock valued at $122,000 after buying an additional 3,730 shares during the last quarter. Russell Investments Group Ltd. raised 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 buying an additional 2,033 shares during the last quarter. Neuburgh Advisers LLC acquired a new stake in Yelp during the first quarter valued at about $133,000. Finally, Independent Portfolio Consultants Inc. acquired a new stake in Yelp during the first quarter valued at about $159,000. 94.79% of the stock is owned by institutional investors and hedge funds.
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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