Yelp (NYSE:YELP) Stock Price Up 15.4% Following Analyst Upgrade

Yelp Inc (NYSE:YELP) shares rose 15.4% during trading on Friday after Morgan Stanley raised their price target on the stock from $31.00 to $32.00. Morgan Stanley currently has an underweight rating on the stock. Yelp traded as high as $35.92 and last traded at $34.77, approximately 5,134,055 shares were traded during trading. An increase of 229% from the average daily volume of 1,562,612 shares. The stock had previously closed at $30.12.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Yelp from a “hold” rating to a “sell” rating and set a $37.00 price target for the company. in a research report on Sunday, July 14th. Credit Suisse Group reaffirmed an “outperform” rating and set a $46.00 price target (up previously from $45.00) on shares of Yelp in a research report on Friday, August 9th. Oppenheimer reaffirmed a “hold” rating on shares of Yelp in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $44.00 price target (up previously from $42.00) on shares of Yelp in a research report on Friday, August 9th. Finally, Wedbush set a $38.00 price target on Yelp and gave the stock a “hold” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. Yelp has a consensus rating of “Hold” and a consensus price target of $39.86.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in YELP. Meeder Asset Management Inc. raised its stake in shares of Yelp by 271.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,371 shares of the local business review company’s stock valued at $47,000 after buying an additional 1,002 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Yelp by 379.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,603 shares of the local business review company’s stock valued at $55,000 after buying an additional 1,269 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Yelp during the 2nd quarter valued at about $78,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Yelp by 89.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,663 shares of the local business review company’s stock valued at $91,000 after buying an additional 1,254 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Yelp by 126.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,786 shares of the local business review company’s stock valued at $162,000 after buying an additional 2,668 shares during the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.

The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.91 and a current ratio of 3.91. The stock has a 50 day simple moving average of $33.88 and a two-hundred day simple moving average of $34.24. The firm has a market cap of $2.36 billion, a PE ratio of 77.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. Yelp had a return on equity of 4.62% and a net margin of 6.26%. The firm had revenue of $246.96 million during the quarter, compared to analyst estimates of $247.63 million. During the same quarter in the previous year, the business earned $0.12 EPS. Yelp’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts forecast that Yelp Inc will post 0.66 earnings per share for the current year.

Yelp Company Profile (NYSE:YELP)

Yelp Inc operates a platform that connects consumers with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

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