Yelp Inc. (NYSE:YELP) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Monday. The firm presently has a $43.15 price target on the local business review company’s stock. Vetr‘s price objective suggests a potential upside of 18.22% from the stock’s current price.
Several other analysts have also recently weighed in on YELP. Deutsche Bank AG upgraded shares of Yelp from a “hold” rating to a “buy” rating and lifted their price target for the company from $26.00 to $33.00 in a report on Monday, June 20th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target (up previously from $28.00) on shares of Yelp in a report on Thursday, June 23rd. Jefferies Group reiterated a “buy” rating and issued a $28.00 price target on shares of Yelp in a report on Monday, June 27th. MKM Partners upgraded shares of Yelp from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, June 30th. Finally, Wedbush initiated coverage on shares of Yelp in a report on Friday, July 8th. They issued a “neutral” rating and a $30.00 price target on the stock. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.03.
Shares of Yelp (NYSE:YELP) opened at 36.50 on Monday. The stock has a 50 day moving average of $39.18 and a 200 day moving average of $30.23. Yelp has a one year low of $14.53 and a one year high of $43.36. The stock’s market cap is $2.82 billion.
Yelp (NYSE:YELP) last issued its earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.08. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The firm had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $169.82 million. During the same quarter last year, the business earned $0.12 earnings per share. The business’s revenue was up 29.5% on a year-over-year basis. On average, analysts forecast that Yelp will post ($0.19) EPS for the current year.
In other Yelp news, SVP Michael Stoppelman sold 5,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $38.19, for a total value of $190,950.00. Following the sale, the senior vice president now owns 131,948 shares in the company, valued at $5,039,094.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeremy Stoppelman sold 263,000 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $40.00, for a total value of $10,520,000.00. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in YELP. Marshall Wace LLP increased its position in Yelp by 7,215.4% in the second quarter. Marshall Wace LLP now owns 1,580,204 shares of the local business review company’s stock worth $47,975,000 after buying an additional 1,558,603 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Yelp by 1,840.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 526,360 shares of the local business review company’s stock worth $15,980,000 after buying an additional 499,239 shares during the last quarter. UBS Group AG increased its position in Yelp by 107.1% in the first quarter. UBS Group AG now owns 31,436 shares of the local business review company’s stock worth $625,000 after buying an additional 474,072 shares during the last quarter. Orbis Allan Gray Ltd purchased a new position in Yelp during the first quarter worth about $7,734,000. Finally, Tairen Capital Ltd purchased a new position in Yelp during the second quarter worth about $9,293,000. Institutional investors and hedge funds own 74.90% of the company’s stock.
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 provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.