Yelp Inc. (NYSE:YELP) Forecasted to Earn Q1 2024 Earnings of $0.04 Per Share

Yelp Inc. (NYSE:YELP) – Stock analysts at Zacks Research decreased their Q1 2024 earnings per share estimates for shares of Yelp in a research note issued on Wednesday, April 17th. Zacks Research analyst R. Department now forecasts that the local business review company will earn $0.04 per share for the quarter, down from their prior estimate of $0.06. The consensus estimate for Yelp’s current full-year earnings is $1.53 per share. Zacks Research also issued estimates for Yelp’s Q4 2024 earnings at $0.54 EPS, Q1 2026 earnings at $0.49 EPS and FY2026 earnings at $2.25 EPS.

A number of other research analysts have also recently commented on the company. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 24th. Raymond James began coverage on Yelp in a research note on Wednesday, March 27th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Yelp currently has a consensus rating of “Hold” and an average price target of $41.75.

Yelp Stock Performance

Shares of NYSE YELP opened at $39.40 on Thursday. Yelp has a 52 week low of $26.53 and a 52 week high of $48.99. The stock has a market capitalization of $2.69 billion, a P/E ratio of 29.19 and a beta of 1.49. The stock’s fifty day moving average is $39.25 and its 200 day moving average is $42.59.

Yelp (NYSE:YELP) last posted its quarterly earnings data on Thursday, February 15th. The local business review company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $342.38 million for the quarter, compared to analysts’ expectations of $341.83 million. Yelp had a return on equity of 14.06% and a net margin of 7.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS.

Institutional Investors Weigh In On Yelp

Several hedge funds and other institutional investors have recently modified their holdings of YELP. Millennium Management LLC increased its holdings in shares of Yelp by 12,790.7% during the fourth quarter. Millennium Management LLC now owns 1,269,731 shares of the local business review company’s stock valued at $34,714,000 after acquiring an additional 1,259,881 shares in the last quarter. Norges Bank bought a new stake in shares of Yelp during the fourth quarter valued at approximately $19,208,000. Vanguard Group Inc. increased its holdings in shares of Yelp by 7.8% during the first quarter. Vanguard Group Inc. now owns 8,257,853 shares of the local business review company’s stock valued at $281,675,000 after acquiring an additional 596,879 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Yelp by 71.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,384,522 shares of the local business review company’s stock valued at $42,505,000 after buying an additional 579,148 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Yelp by 65.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,215,355 shares of the local business review company’s stock valued at $57,535,000 after buying an additional 482,242 shares during the last quarter. Institutional investors own 90.11% of the company’s stock.

Insider Transactions at Yelp

In other news, CFO David A. Schwarzbach sold 2,750 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $40.63, for a total transaction of $111,732.50. Following the completion of the transaction, the chief financial officer now directly owns 258,848 shares in the company, valued at $10,516,994.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Yelp news, CFO David A. Schwarzbach sold 2,750 shares of Yelp stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $40.63, for a total value of $111,732.50. Following the completion of the sale, the chief financial officer now directly owns 258,848 shares in the company, valued at $10,516,994.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Joseph R. Nachman sold 6,000 shares of Yelp stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $38.83, for a total value of $232,980.00. Following the completion of the sale, the chief operating officer now owns 312,502 shares of the company’s stock, valued at $12,134,452.66. The disclosure for this sale can be found here. Insiders sold 14,750 shares of company stock worth $613,213 over the last ninety days. 7.20% of the stock is owned by insiders.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.