BidaskClub Lowers Yelp Inc. (YELP) to Hold

BidaskClub downgraded shares of Yelp Inc. (NYSE:YELP) from a buy rating to a hold rating in a research note released on Thursday morning.

Other equities analysts have also issued reports about the company. B. Riley reiterated a neutral rating and issued a $36.00 target price on shares of Yelp in a research note on Friday, August 4th. Barclays PLC reiterated an equal weight rating and issued a $36.00 target price (up from $28.00) on shares of Yelp in a research note on Friday, August 4th. Zacks Investment Research upgraded Yelp from a sell rating to a hold rating in a research note on Wednesday, May 17th. Royal Bank Of Canada upped their target price on Yelp from $27.00 to $36.00 and gave the company a sector perform rating in a research note on Friday, August 4th. Finally, Cantor Fitzgerald set a $39.00 target price on Yelp and gave the company a buy rating in a research note on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Yelp presently has an average rating of Hold and a consensus target price of $38.60.

Yelp (YELP) opened at 43.57 on Thursday. The stock’s 50 day moving average price is $40.93 and its 200-day moving average price is $34.08. The stock has a market capitalization of $3.56 billion, a PE ratio of 275.76 and a beta of 1.41. Yelp has a 12-month low of $26.93 and a 12-month high of $44.25.

Yelp (NYSE:YELP) last released its earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. The firm had revenue of $209.90 million during the quarter, compared to analyst estimates of $204.89 million. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. Analysts expect that Yelp will post $0.07 earnings per share for the current year.

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Yelp announced that its board has authorized a stock repurchase program on Thursday, August 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, CFO Charles Baker sold 3,921 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total transaction of $162,525.45. Following the completion of the sale, the chief financial officer now directly owns 112,941 shares of the company’s stock, valued at approximately $4,681,404.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Geoffrey L. Donaker sold 42,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.00, for a total value of $1,680,000.00. Following the sale, the director now directly owns 47,590 shares of the company’s stock, valued at $1,903,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 182,240 shares of company stock valued at $7,381,629. Corporate insiders own 10.10% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Yelp in the second quarter worth $108,000. FNY Partners Fund LP boosted its position in shares of Yelp by 18,650.0% in the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after buying an additional 3,730 shares during the period. Neuburgh Advisers LLC acquired a new stake in shares of Yelp in the first quarter worth $133,000. Russell Investments Group Ltd. boosted its position in shares of Yelp by 98.8% in the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after buying an additional 2,033 shares during the period. Finally, FNY Managed Accounts LLC acquired a new stake in shares of Yelp in the first quarter worth $163,000. 90.90% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Yelp (NYSE:YELP)

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