Yelp Inc. (NYSE:YELP)‘s stock had its “hold” rating reaffirmed by investment analysts at Piper Jaffray Companies in a report released on Friday. They presently have a $38.00 price target on the local business review company’s stock. Piper Jaffray Companies’ target price would suggest a potential downside of 17.52% from the company’s current price.
Other research analysts have also issued research reports about the company. Jefferies Group LLC boosted their price target on Yelp from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target (up previously from $30.00) on shares of Yelp in a research report on Friday, August 4th. MKM Partners raised Yelp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $31.31 in a research report on Friday, August 4th. Credit Suisse Group set a $40.00 price target on Yelp and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $45.00 price target (up previously from $36.00) on shares of Yelp in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $43.37.
Yelp (NYSE YELP) opened at $46.07 on Friday. The firm has a market capitalization of $3,768.66, a P/E ratio of 209.41, a price-to-earnings-growth ratio of 25.05 and a beta of 1.29. Yelp has a 1 year low of $26.93 and a 1 year high of $48.17.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. The firm had revenue of $222.40 million for the quarter, compared to analyst estimates of $220.75 million. Yelp had a return on equity of 2.26% and a net margin of 2.31%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 EPS. equities research analysts predict that Yelp will post 0.14 earnings per share for the current year.
Yelp declared that its Board of Directors has initiated a share repurchase program on Thursday, August 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the local business review company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $47.00, for a total value of $282,000.00. Following the completion of the transaction, the director now owns 9,590 shares of the company’s stock, valued at approximately $450,730. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $41.05, for a total value of $533,650.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 310,981 shares of company stock valued at $13,545,530. Insiders own 10.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of YELP. UBS Asset Management Americas Inc. increased its holdings in Yelp by 46.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 53,227 shares of the local business review company’s stock worth $1,743,000 after purchasing an additional 16,766 shares in the last quarter. Wellington Management Group LLP acquired a new position in Yelp in the 1st quarter worth about $319,000. Legal & General Group Plc grew its position in shares of Yelp by 165.1% in the 1st quarter. Legal & General Group Plc now owns 23,905 shares of the local business review company’s stock valued at $783,000 after buying an additional 14,889 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Yelp by 11.2% in the 1st 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 last quarter. Finally, Geode Capital Management LLC grew its position in shares of Yelp by 8.1% in the 1st quarter. Geode Capital Management LLC now owns 457,860 shares of the local business review company’s stock valued at $14,994,000 after buying an additional 34,269 shares during the last quarter. 89.28% of the stock is owned by institutional investors and hedge funds.
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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