Todays Report: The Piper Jaffray Cos. Reiterates “$36.00” Price Target for Yelp Inc. (YELP)

The Piper Jaffray Cos. Reiterates “$36.00” Price Target for Yelp Inc. (YELP)

Yelp Inc. (NYSE:YELP) received a $36.00 target price from investment analysts at Piper Jaffray Cos. in a research note issued on Wednesday. The brokerage currently has a “hold” rating on the local business review company’s stock. Piper Jaffray Cos.’s target price points to a potential downside of 6.52% from the stock’s current price.

Several other analysts have also issued reports on YELP. Zacks Investment Research upgraded shares of Yelp from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Tuesday, July 12th. Mizuho upgraded shares of Yelp from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $40.00 in a research report on Wednesday, August 10th. RBC Capital Markets restated an “outperform” rating and set a $48.00 price target (up from $36.00) on shares of Yelp in a research report on Thursday, August 11th. Vetr lowered shares of Yelp from a “buy” rating to a “hold” rating and set a $42.74 price target for the company. in a research report on Tuesday, September 27th. Finally, Royal Bank Of Canada upped their price target on shares of Yelp from $36.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Yelp presently has a consensus rating of “Hold” and an average price target of $37.00.

Shares of Yelp (NYSE:YELP) traded down 1.23% on Wednesday, reaching $38.51. The company’s stock had a trading volume of 538,633 shares. The firm’s market cap is $3.02 billion. The stock has a 50 day moving average of $36.39 and a 200-day moving average of $33.37. Yelp has a 12 month low of $14.53 and a 12 month high of $43.36.

Yelp (NYSE:YELP) last released its quarterly earnings results on Wednesday, November 2nd. The local business review company reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.25. The firm had revenue of $186.20 million for the quarter, compared to analysts’ expectations of $183 million. Yelp had a negative net margin of 5.23% and a negative return on equity of 4.58%. The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, analysts anticipate that Yelp will post ($0.14) EPS for the current year.

In related news, Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $39.97, for a total transaction of $239,820.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $239,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Stoppelman sold 8,736 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $38.19, for a total transaction of $333,627.84. Following the transaction, the senior vice president now owns 132,903 shares in the company, valued at $5,075,565.57. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of YELP. FNY Managed Accounts LLC bought a new stake in Yelp during the third quarter valued at about $100,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Yelp by 11.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,575 shares of the local business review company’s stock valued at $107,000 after buying an additional 270 shares during the period. Emerald Acquisition Ltd. bought a new stake in Yelp during the second quarter valued at about $112,000. US Bancorp DE boosted its stake in Yelp by 3,181.0% in the third quarter. US Bancorp DE now owns 3,970 shares of the local business review company’s stock valued at $165,000 after buying an additional 3,849 shares during the period. Finally, Legal & General Group Plc boosted its stake in Yelp by 62.0% in the second quarter. Legal & General Group Plc now owns 5,742 shares of the local business review company’s stock valued at $174,000 after buying an additional 2,197 shares during the period. Institutional investors own 74.92% of the company’s stock.

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