Yelp Inc. (YELP) Given a $51.00 Price Target at SunTrust Banks, Inc.

SunTrust Banks, Inc. set a $51.00 price objective on Yelp Inc. (NYSE:YELP) in a research report released on Wednesday morning. The brokerage currently has a buy rating on the local business review company’s stock.

A number of other equities analysts have also commented on YELP. B. Riley reiterated a neutral rating and issued a $36.00 price objective on shares of Yelp in a report on Friday, August 4th. Cowen and Company reiterated a market perform rating and issued a $38.00 price objective (up previously from $33.00) on shares of Yelp in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Yelp from a sell rating to a hold rating and set a $48.00 price objective on the stock in a report on Tuesday, August 8th. Robert W. Baird reiterated a neutral rating and issued a $37.00 price objective (up previously from $26.00) on shares of Yelp in a report on Thursday, August 10th. Finally, Citigroup Inc. boosted their price objective on shares of Yelp from $42.00 to $50.00 and gave the stock a buy rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Yelp currently has an average rating of Buy and an average price target of $43.15.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.30. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The firm had revenue of $222.40 million for the quarter, compared to analyst estimates of $220.75 million. During the same quarter in the previous year, the business posted $0.22 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year.

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Yelp announced that its board has approved a stock repurchase plan on Thursday, August 3rd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the local business review company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

In other news, COO Joseph R. Nachman sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.28, for a total transaction of $248,820.00. Following the sale, the chief operating officer now owns 131,115 shares in the company, valued at $5,019,082.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $47.00, for a total transaction of $282,000.00. Following the sale, the director now owns 9,590 shares in the company, valued at approximately $450,730. The disclosure for this sale can be found here. Over the last three months, insiders have sold 372,481 shares of company stock valued at $15,994,350. Company insiders own 10.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in YELP. BlackRock Inc. raised its holdings in shares of Yelp by 3,803.3% during 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 acquiring an additional 2,756,955 shares during the period. Southpoint Capital Advisors LP acquired a new stake in shares of Yelp during the second quarter valued at approximately $66,044,000. Fisher Asset Management LLC raised its holdings in shares of Yelp by 658.2% during the second quarter. Fisher Asset Management LLC now owns 2,459,293 shares of the local business review company’s stock valued at $73,828,000 after acquiring an additional 2,134,942 shares during the period. First Trust Advisors LP raised its holdings in shares of Yelp by 794.9% during the second quarter. First Trust Advisors LP now owns 1,930,508 shares of the local business review company’s stock valued at $57,954,000 after acquiring an additional 1,714,785 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of Yelp by 38.7% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,116,090 shares of the local business review company’s stock valued at $93,545,000 after acquiring an additional 868,890 shares during the period. Institutional investors and hedge funds own 89.28% 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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