Yelp Inc (NYSE:YELP)‘s stock had its “buy” rating reiterated by Maxim Group in a report released on Wednesday, May 10th. They currently have a $41.00 target price on the local business review company’s stock, down from their previous target price of $45.00. Maxim Group’s target price would indicate a potential upside of 47.27% from the stock’s previous close.
The analysts wrote, “Sales for the quarter were relatively inline with expectations and came in near the middle of management’s guidance range.””
Other research analysts have also recently issued research reports about the company. Royal Bank of Canada set a $55.00 price target on Yelp and gave the stock a “buy” rating in a research note on Monday, February 6th. Mizuho decreased their price target on Yelp from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, February 10th. Credit Suisse Group AG set a $49.00 price objective on Yelp and gave the company a “buy” rating in a research report on Friday, February 10th. Aegis reiterated a “buy” rating on shares of Yelp in a research report on Saturday, January 21st. Finally, Zacks Investment Research upgraded Yelp from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Saturday, January 14th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $35.60.
Shares of Yelp (NYSE:YELP) traded down 0.54% during mid-day trading on Wednesday, reaching $27.84. 2,731,369 shares of the company’s stock traded hands. The company has a 50 day moving average of $32.66 and a 200 day moving average of $35.96. Yelp has a 12 month low of $24.71 and a 12 month high of $43.41. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 376.22 and a beta of 2.11.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Yelp had a negative return on equity of 0.01% and a negative net margin of 0.65%. The firm had revenue of $197.32 million during the quarter, compared to analysts’ expectations of $198.51 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. Analysts expect that Yelp will post ($0.08) earnings per share for the current fiscal year.
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In related news, COO Joseph R. Nachman sold 3,500 shares of Yelp stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $35.99, for a total value of $125,965.00. Following the completion of the transaction, the chief operating officer now owns 141,404 shares in the company, valued at approximately $5,089,129.96. 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 dated Tuesday, May 16th. The shares were sold at an average price of $28.90, for a total value of $115,600.00. Following the completion of the transaction, the director now owns 9,590 shares of the company’s stock, valued at approximately $277,151. The disclosure for this sale can be found here. Insiders sold a total of 47,284 shares of company stock valued at $1,595,846 in the last 90 days. 11.08% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of YELP. BlackRock Inc. boosted its stake in Yelp by 3,803.3% in the first quarter. BlackRock Inc. now owns 2,829,444 shares of the local business review company’s stock valued at $92,666,000 after buying an additional 2,756,955 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Yelp by 1,088.8% in the first quarter. Point72 Asset Management L.P. now owns 2,661,644 shares of the local business review company’s stock valued at $87,169,000 after buying an additional 2,437,744 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Yelp by 375.5% in the first quarter. Wells Fargo & Company MN now owns 1,388,422 shares of the local business review company’s stock valued at $45,470,000 after buying an additional 1,096,446 shares during the last quarter. Norges Bank purchased a new stake in Yelp during the fourth quarter valued at about $32,017,000. Finally, Clough Capital Partners L P boosted its stake in Yelp by 179.2% in the first quarter. Clough Capital Partners L P now owns 1,300,758 shares of the local business review company’s stock valued at $45,106,000 after buying an additional 834,929 shares during the last quarter. Institutional investors own 74.24% 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 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.
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