BidaskClub Upgrades Yelp Inc. (YELP) to Buy

Yelp Inc. (NYSE:YELP) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Friday.

Other equities research analysts have also recently issued reports about the company. Barclays PLC restated an “equal weight” rating and set a $36.00 target price (up from $28.00) on shares of Yelp in a report on Friday, August 4th. B. Riley restated a “neutral” rating and set a $36.00 target price on shares of Yelp in a report on Friday, August 4th. Royal Bank Of Canada increased their target price on Yelp from $27.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. Zacks Investment Research upgraded Yelp from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a report on Tuesday, August 8th. Finally, Jefferies Group LLC increased their target price on Yelp from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $39.78.

Yelp (NYSE:YELP) opened at 46.73 on Friday. The firm has a 50-day moving average price of $43.27 and a 200 day moving average price of $35.14. The company has a market capitalization of $3.82 billion, a P/E ratio of 295.76 and a beta of 1.34. Yelp has a 52-week low of $26.93 and a 52-week high of $46.76.

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

Yelp declared that its board has initiated a share buyback program on Thursday, August 3rd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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In related news, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $45.38, for a total value of $589,940.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Laurence Wilson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $42.00, for a total value of $420,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,947 shares in the company, valued at $8,061,774. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 227,240 shares of company stock worth $9,504,099. Company insiders own 10.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in YELP. Strs Ohio bought a new position in Yelp in the 2nd quarter worth $108,000. FNY Partners Fund LP raised its holdings in Yelp by 18,650.0% in the 1st 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 during the period. Russell Investments Group Ltd. raised its holdings in Yelp by 98.8% in the 2nd 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 during the period. FNY Managed Accounts LLC bought a new position in Yelp in the 1st quarter worth $163,000. Finally, Teacher Retirement System of Texas raised its holdings in Yelp by 11.8% in the 1st 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 during the period. 90.85% 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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