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.
COPYRIGHT VIOLATION WARNING: This piece was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://transcriptdaily.com/2017/10/08/bidaskclub-upgrades-yelp-inc-yelp-to-buy.html.
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.
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.
Receive News & Ratings for Yelp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.