Piper Jaffray Companies Trims Yelp Inc (YELP) Target Price to $30.00

Yelp Inc (NYSE:YELP) had its price objective cut by stock analysts at Piper Jaffray Companies from $36.00 to $30.00 in a research report issued to clients and investors on Wednesday, May 10th. The firm presently has a “neutral” rating on the local business review company’s stock. Piper Jaffray Companies’ target price points to a potential upside of 7.76% from the stock’s previous close.

YELP has been the topic of several other research reports. Royal Bank of Canada set a $55.00 target price on shares of Yelp and gave the company a “buy” rating in a report on Monday, February 6th. Roth Capital set a $30.00 price objective on shares of Yelp and gave the company a “sell” rating in a report on Tuesday, February 7th. Credit Suisse Group AG set a $49.00 price objective on shares of Yelp and gave the company a “buy” rating in a report on Monday, March 20th. Vetr lowered shares of Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 price objective on the stock. in a report on Thursday, April 20th. Finally, Wells Fargo & Co upgraded shares of Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 price objective on the stock in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.60.

Analyst Recommendations for Yelp (NYSE:YELP)

Shares of Yelp (NYSE:YELP) traded down 0.54% on Wednesday, hitting $27.84. The stock had a trading volume of 2,731,369 shares. The firm has a 50 day moving average price of $32.66 and a 200 day moving average price of $35.96. Yelp has a one year low of $24.71 and a one year high of $43.41. The company has a market capitalization of $2.24 billion, a P/E ratio of 376.22 and a beta of 2.11.

Yelp (NYSE:YELP) last released its earnings results on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $197.32 million for the quarter, compared to analyst estimates of $198.51 million. Yelp had a negative net margin of 0.65% and a negative return on equity of 0.01%. Yelp’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, equities research analysts predict that Yelp will post ($0.08) earnings per share for the current fiscal year.

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In related news, SVP Michael Stoppelman sold 7,784 shares of the 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 of the company’s stock, valued at approximately $4,319,843.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Geoffrey L. Donaker sold 4,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $28.90, for a total transaction of $115,600.00. Following the transaction, the director now directly owns 9,590 shares in the company, 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 worth $1,595,846 in the last three months. Insiders own 11.08% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Yelp by 11.2% in the first quarter. Vanguard Group Inc. now owns 5,703,608 shares of the local business review company’s stock valued at $186,793,000 after buying an additional 574,004 shares in the last quarter. BlackRock Inc. raised its stake in shares of 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 worth $92,666,000 after buying an additional 2,756,955 shares during the period. Point72 Asset Management L.P. raised its stake in shares of 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 worth $87,169,000 after buying an additional 2,437,744 shares during the period. Allianz Asset Management AG raised its stake in shares of Yelp by 32.5% in the fourth quarter. Allianz Asset Management AG now owns 2,557,984 shares of the local business review company’s stock worth $97,536,000 after buying an additional 626,934 shares during the period. Finally, EastBay Asset Management LLC raised its stake in shares of Yelp by 33.3% in the fourth quarter. EastBay Asset Management LLC now owns 2,447,689 shares of the local business review company’s stock worth $93,328,000 after buying an additional 611,127 shares during the period. 74.24% of the stock is currently owned by institutional investors.

About Yelp

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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