Yelp Inc. (YELP) Upgraded to “Market Perform” by Wells Fargo & Company

Yelp Inc. (NYSE:YELP) was upgraded by investment analysts at Wells Fargo & Company from an “underperform” rating to a “market perform” rating in a research report issued on Thursday, May 11th, Marketbeat.com reports.

A number of other research firms have also recently weighed in on YELP. Vetr cut Yelp from a “buy” rating to a “hold” rating and set a $44.44 price target on the stock. in a research note on Wednesday, February 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $46.00 price target on shares of Yelp in a research note on Monday, February 6th. Royal Bank of Canada set a $55.00 target price on Yelp and gave the stock a “buy” rating in a research report on Monday, February 6th. Roth Capital set a $30.00 target price on Yelp and gave the stock a “sell” rating in a research report on Tuesday, February 7th. Finally, Wedbush lifted their target price on Yelp from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have given a buy rating to the stock. Yelp presently has a consensus rating of “Hold” and a consensus target price of $35.42.

Analyst Recommendations for Yelp (NYSE:YELP)

Yelp (NYSE YELP) opened at 30.15 on Thursday. The company’s 50-day moving average price is $30.47 and its 200 day moving average price is $34.89. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 407.43 and a beta of 1.66. Yelp has a 12 month low of $26.35 and a 12 month high of $43.41.

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, beating the Zacks’ consensus estimate of ($0.08) by $0.02. Yelp had a return on equity of 0.77% and a net margin of 0.80%. The company had revenue of $197.32 million for the quarter, compared to analysts’ expectations of $198.51 million. During the same period last year, the firm earned $0.08 earnings per share. Yelp’s quarterly revenue was up 24.4% on a year-over-year basis. Analysts predict that Yelp will post ($0.08) EPS for the current year.

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In related news, CFO Charles Baker sold 12,176 shares of Yelp stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total transaction of $343,728.48. Following the completion of the transaction, the chief financial officer now directly owns 116,862 shares in the company, valued at approximately $3,299,014.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $32.34, for a total value of $129,360.00. Following the transaction, the director now owns 9,590 shares of the company’s stock, valued at $310,140.60. The disclosure for this sale can be found here. Insiders have sold a total of 71,121 shares of company stock valued at $2,225,146 over the last 90 days. Insiders own 11.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of YELP. Vanguard Group Inc. increased its position in shares of 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 during the period. BlackRock Inc. increased its position 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 valued at $92,666,000 after buying an additional 2,756,955 shares during the period. Point72 Asset Management L.P. increased its position 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 valued at $87,169,000 after buying an additional 2,437,744 shares during the period. Allianz Asset Management AG increased its position 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 valued at $97,536,000 after buying an additional 626,934 shares during the period. Finally, EastBay Asset Management LLC increased its position 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 valued at $93,328,000 after buying an additional 611,127 shares during the period. Institutional investors own 90.75% of the company’s stock.

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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