Barclays PLC Boosts Yelp Inc. (YELP) Price Target to $43.00

Yelp Inc. (NYSE:YELP) had its price target boosted by Barclays PLC from $36.00 to $43.00 in a research report released on Thursday morning. Barclays PLC currently has an equal weight rating on the local business review company’s stock.

Other equities analysts have also issued research reports about the stock. B. Riley restated a neutral rating and set a $36.00 price objective on shares of Yelp in a research report on Friday, August 4th. Wells Fargo & Company restated a market perform rating and set a $45.00 price objective (up previously from $36.00) on shares of Yelp in a research report on Thursday. Royal Bank Of Canada raised their price objective on shares of Yelp from $27.00 to $36.00 and gave the company a sector perform rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Yelp from a sell rating to a hold rating and set a $48.00 price objective for the company in a research report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. set a $51.00 price objective on shares of Yelp and gave the company a buy rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $43.37.

Yelp (YELP) opened at $46.07 on Thursday. Yelp has a 12-month low of $26.93 and a 12-month high of $48.17. The firm has a market cap of $3,768.66, a PE ratio of 209.41, a PEG ratio of 12.07 and a beta of 1.29.

Yelp (NYSE:YELP) last posted its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. Yelp had a net margin of 2.31% and a return on equity of 2.26%. The company had revenue of $222.40 million during the quarter, compared to analyst estimates of $220.75 million. During the same quarter last year, the firm posted $0.22 EPS. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. sell-side analysts forecast that Yelp will post 0.14 earnings per share for the current year.

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Yelp announced that its Board of Directors has initiated a stock repurchase program on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $43.50, for a total transaction of $261,000.00. Following the sale, the director now owns 9,590 shares in the company, valued at $417,165. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles Baker sold 3,921 shares of Yelp stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total transaction of $162,525.45. Following the sale, the chief financial officer now owns 112,941 shares in the company, valued at approximately $4,681,404.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 310,981 shares of company stock worth $13,545,530. 10.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of YELP. UBS Asset Management Americas Inc. boosted its stake in Yelp by 46.0% during the first quarter. UBS Asset Management Americas Inc. now owns 53,227 shares of the local business review company’s stock worth $1,743,000 after buying an additional 16,766 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Yelp during the first quarter worth $319,000. Legal & General Group Plc boosted its stake in Yelp by 165.1% during the first quarter. Legal & General Group Plc now owns 23,905 shares of the local business review company’s stock worth $783,000 after buying an additional 14,889 shares in the last quarter. Vanguard Group Inc. boosted its stake in Yelp by 11.2% during the first quarter. Vanguard Group Inc. now owns 5,703,608 shares of the local business review company’s stock worth $186,793,000 after buying an additional 574,004 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Yelp by 8.1% during the first quarter. Geode Capital Management LLC now owns 457,860 shares of the local business review company’s stock worth $14,994,000 after buying an additional 34,269 shares in the last quarter. Hedge funds and other institutional investors own 87.88% 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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