Yelp Inc (YELP) Lowered to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada lowered shares of Yelp Inc (NYSE:YELP) from an outperform rating to a sector perform rating in a research report report published on Wednesday, May 10th. They currently have $27.00 price objective on the local business review company’s stock, down from their previous price objective of $49.00.

A number of other analysts have also recently commented on YELP. B. Riley restated a neutral rating and issued a $36.00 price objective on shares of Yelp in a research report on Friday, February 10th. Axiom Securities reduced their target price on shares of Yelp from $47.00 to $46.00 and set a buy rating for the company in a research note on Friday, February 10th. Loop Capital reaffirmed a hold rating on shares of Yelp in a research note on Wednesday, April 19th. Mizuho reduced their target price on shares of Yelp from $45.00 to $44.00 and set a buy rating for the company in a research note on Friday, February 10th. Finally, Stifel Nicolaus reduced their target price on shares of Yelp from $42.00 to $40.00 and set a hold rating for the company in a research note on Friday, February 10th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $35.60.

Yelp (NYSE:YELP) last released its quarterly earnings data on Tuesday, May 9th. The local business review company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.02. Yelp had a negative net margin of 0.65% and a negative return on equity of 0.01%. The business had revenue of $197.32 million during the quarter, compared to analysts’ expectations of $198.51 million. During the same quarter in the prior year, the company earned $0.08 EPS. The firm’s quarterly revenue was up 24.4% on a year-over-year basis.

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In other news, SVP Michael Stoppelman sold 7,784 shares of Yelp stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $34.44, for a total transaction of $268,080.96. Following the transaction, the senior vice president now owns 125,431 shares in the company, valued at $4,319,843.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $28.90, for a total transaction of $115,600.00. Following the transaction, the director now owns 9,590 shares in the company, valued at approximately $277,151. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,284 shares of company stock worth $1,595,846. 11.08% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the company. FMR LLC purchased a new position in shares of Yelp during the fourth quarter worth $12,756,000. BlackRock Institutional Trust Company N.A. increased its position in shares of Yelp by 13.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,691,992 shares of the local business review company’s stock worth $70,556,000 after buying an additional 202,399 shares in the last quarter. G2 Investment Partners Management LLC increased its position in shares of Yelp by 46.1% in the third quarter. G2 Investment Partners Management LLC now owns 90,021 shares of the local business review company’s stock worth $3,754,000 after buying an additional 28,405 shares in the last quarter. Janus Capital Management LLC increased its stake in Yelp by 215.9% in the fourth quarter. Janus Capital Management LLC now owns 27,800 shares of the local business review company’s stock valued at $1,060,000 after buying an additional 19,000 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Yelp during the fourth quarter valued at $2,071,000. 74.24% of the stock is owned by institutional investors and hedge funds.

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 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.

12 Month Chart for NYSE:YELP

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