Zacks Investment Research downgraded shares of Yelp Inc. (NYSE:YELP) from a buy rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “
Other equities research analysts have also issued research reports about the stock. Vetr lowered shares of Yelp from a strong-buy rating to a buy rating and set a $33.32 price target on the stock. in a report on Monday, July 4th. MKM Partners raised 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. Jefferies Group reissued a buy rating and issued a $28.00 price target on shares of Yelp in a report on Monday, June 27th. Needham & Company LLC reissued 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. Finally, Deutsche Bank AG raised shares of Yelp from a hold rating to a buy rating and raised their price target for the stock from $26.00 to $33.00 in a report on Monday, June 20th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Yelp currently has a consensus rating of Hold and a consensus target price of $36.03.
Yelp (NYSE:YELP) opened at 36.64 on Wednesday. The firm’s market capitalization is $2.83 billion. Yelp has a 12 month low of $14.53 and a 12 month high of $43.36. The firm’s 50-day moving average is $39.15 and its 200 day moving average is $30.49.
Yelp (NYSE:YELP) last announced its quarterly earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. The business had revenue of $173.40 million for the quarter, compared to analyst estimates of $169.82 million. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The company’s revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS. On average, analysts expect that Yelp will post ($0.19) EPS for the current fiscal year.
In related news, COO Joseph R. Nachman sold 2,508 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $37.45, for a total value of $93,924.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $28.99, for a total transaction of $173,940.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $173,940. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Algert Global LLC bought a new position in Yelp during the third quarter valued at approximately $502,000. Macquarie Group Ltd. increased its position in Yelp by 1.6% in the second quarter. Macquarie Group Ltd. now owns 1,450,951 shares of the local business review company’s stock valued at $44,051,000 after buying an additional 22,868 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Yelp by 14.9% in the second quarter. Public Employees Retirement System of Ohio now owns 15,229 shares of the local business review company’s stock valued at $462,000 after buying an additional 1,971 shares in the last quarter. Personal Capital Advisors Corp increased its position in Yelp by 16.0% in the second quarter. Personal Capital Advisors Corp now owns 420,991 shares of the local business review company’s stock valued at $12,781,000 after buying an additional 58,034 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Yelp by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 111,168 shares of the local business review company’s stock valued at $3,376,000 after buying an additional 3,576 shares in the last quarter. 74.84% of the stock is currently owned by institutional investors.
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.