Yelp (YELP) Downgraded by Raymond James to “Market Perform”

Raymond James lowered shares of Yelp (NYSE:YELP) from an outperform rating to a market perform rating in a report released on Friday, Marketbeat Ratings reports.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Yelp from a buy rating to a hold rating in a research report on Friday, September 28th. Royal Bank of Canada increased their price objective on shares of Yelp to $62.00 and gave the stock an outperform rating in a research report on Monday, September 17th. Wedbush reissued an outperform rating and issued a $60.00 price objective on shares of Yelp in a research report on Thursday, September 13th. KeyCorp reissued a hold rating on shares of Yelp in a research report on Thursday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Yelp to $57.00 and gave the stock an overweight rating in a research report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. Yelp presently has an average rating of Hold and an average price target of $42.45.

Yelp stock traded down $11.57 during midday trading on Friday, reaching $31.93. The stock had a trading volume of 25,345,839 shares, compared to its average volume of 1,450,994. Yelp has a 52-week low of $29.33 and a 52-week high of $52.50. The firm has a market capitalization of $3.75 billion, a P/E ratio of 498.22, a price-to-earnings-growth ratio of 7.52 and a beta of 1.29.

Yelp (NYSE:YELP) last posted its quarterly earnings data on Thursday, November 8th. The local business review company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.09. Yelp had a net margin of 17.64% and a return on equity of 0.74%. The company had revenue of $241.10 million for the quarter, compared to analyst estimates of $245.55 million. During the same period in the prior year, the company posted $0.29 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts predict that Yelp will post 0.3 EPS for the current year.

In other news, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $40.69, for a total transaction of $162,760.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $43.98, for a total transaction of $571,740.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 223,500 shares of company stock worth $10,135,885. Corporate insiders own 9.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of YELP. BlackRock Inc. increased its holdings in Yelp by 28.7% during the second quarter. BlackRock Inc. now owns 7,154,009 shares of the local business review company’s stock valued at $280,295,000 after buying an additional 1,597,355 shares during the period. Macquarie Group Ltd. increased its holdings in Yelp by 126.7% during the second quarter. Macquarie Group Ltd. now owns 1,105,663 shares of the local business review company’s stock valued at $43,320,000 after buying an additional 617,864 shares during the period. Dimensional Fund Advisors LP increased its holdings in Yelp by 647.5% during the second quarter. Dimensional Fund Advisors LP now owns 647,466 shares of the local business review company’s stock valued at $25,368,000 after buying an additional 560,847 shares during the period. FMR LLC purchased a new position in Yelp during the third quarter valued at approximately $20,179,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its holdings in Yelp by 15.8% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,096,725 shares of the local business review company’s stock valued at $82,149,000 after buying an additional 285,890 shares during the period. 86.05% of the stock is currently owned by institutional investors.

About Yelp

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

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Analyst Recommendations for Yelp (NYSE:YELP)

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