Yelp Inc. (YELP) Rating Reiterated by Piper Jaffray Companies

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.

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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.

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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