Zacks Investment Research Lowers Yelp (YELP) to Hold

Zacks Investment Research lowered shares of Yelp (NYSE:YELP) from a buy rating to a hold rating in a research report released on Saturday morning.

According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “

Other equities analysts have also issued reports about the stock. Jefferies Group upped their price objective on shares of Yelp from $37.00 to $43.00 and gave the stock a buy rating in a report on Friday, August 4th. MKM Partners upgraded shares of Yelp from a neutral rating to a buy rating and upped their price objective for the stock from $27.00 to $31.31 in a report on Friday, August 4th. Credit Suisse Group set a $40.00 price objective on shares of Yelp and gave the stock a buy rating in a report on Friday, August 4th. Needham & Company LLC restated a buy rating and issued a $43.00 price objective (up from $30.00) on shares of Yelp in a report on Friday, August 4th. Finally, Deutsche Bank restated a buy rating and issued a $45.00 price objective (up from $36.00) on shares of Yelp in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $43.53.

Yelp (NYSE:YELP) opened at $42.90 on Friday. Yelp has a fifty-two week low of $26.93 and a fifty-two week high of $48.40. The company has a market cap of $3,560.00, a P/E ratio of 199.50, a PEG ratio of 9.86 and a beta of 1.22.

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 the consensus estimate of ($0.01) by $0.30. Yelp had a net margin of 2.31% and a return on equity of 2.20%. The firm had revenue of $222.40 million for the quarter, compared to analyst estimates of $220.75 million. During the same period in the prior year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. research analysts forecast that Yelp will post 0.17 EPS for the current year.

In related news, insider Laurence Wilson sold 30,000 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $46.18, for a total value of $1,385,400.00. Following the transaction, the insider now directly owns 187,739 shares of the company’s stock, valued at approximately $8,669,787.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alan Ramsay sold 592 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $46.92, for a total transaction of $27,776.64. Following the completion of the transaction, the insider now directly owns 20,048 shares in the company, valued at $940,652.16. The disclosure for this sale can be found here. Insiders sold a total of 314,956 shares of company stock worth $14,168,048 over the last 90 days. Company insiders own 10.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dorsey Asset Management LLC purchased a new position in shares of Yelp in the 2nd quarter valued at $22,095,000. Capital Fund Management S.A. grew its position in shares of Yelp by 113.2% in the 2nd quarter. Capital Fund Management S.A. now owns 714,639 shares of the local business review company’s stock valued at $21,453,000 after buying an additional 379,367 shares during the last quarter. Ingalls & Snyder LLC grew its position in shares of Yelp by 17.0% in the 3rd quarter. Ingalls & Snyder LLC now owns 97,521 shares of the local business review company’s stock valued at $4,223,000 after buying an additional 14,171 shares during the last quarter. AHL Partners LLP purchased a new position in shares of Yelp in the 2nd quarter valued at $2,292,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Yelp in the 3rd quarter valued at $455,000. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

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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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