Yelp (NYSE:YELP) Trading 15.4% Higher Following Analyst Upgrade

Yelp Inc (NYSE:YELP)’s share price traded up 15.4% during trading on Friday after Morgan Stanley raised their price target on the stock from $31.00 to $32.00. Morgan Stanley currently has an underweight rating on the stock. Yelp traded as high as $35.92 and last traded at $34.77, 5,134,055 shares traded hands during trading. An increase of 229% from the average session volume of 1,562,612 shares. The stock had previously closed at $30.12.

A number of other analysts have also recently commented on the company. Wedbush set a $38.00 price target on Yelp and gave the stock a “hold” rating in a research report on Friday, September 27th. Stifel Nicolaus restated a “hold” rating and issued a $35.00 price target on shares of Yelp in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $44.00 price target (up previously from $42.00) on shares of Yelp in a research report on Friday, August 9th. Oppenheimer reaffirmed a “hold” rating on shares of Yelp in a research note on Friday, August 9th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $46.00 price objective (up previously from $45.00) on shares of Yelp in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. Yelp presently has an average rating of “Hold” and an average price target of $39.86.

Institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its stake in Yelp by 271.5% during the second quarter. Meeder Asset Management Inc. now owns 1,371 shares of the local business review company’s stock valued at $47,000 after buying an additional 1,002 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Yelp by 379.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,603 shares of the local business review company’s stock valued at $55,000 after purchasing an additional 1,269 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Yelp during the second quarter valued at approximately $78,000. Ladenburg Thalmann Financial Services Inc. raised its position in Yelp by 89.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,663 shares of the local business review company’s stock valued at $91,000 after purchasing an additional 1,254 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in Yelp by 126.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,786 shares of the local business review company’s stock valued at $162,000 after purchasing an additional 2,668 shares during the period. 92.66% of the stock is owned by institutional investors.

The company has a debt-to-equity ratio of 0.26, a current ratio of 3.91 and a quick ratio of 3.91. The business has a 50-day simple moving average of $33.88 and a 200-day simple moving average of $34.24. The firm has a market capitalization of $2.36 billion, a PE ratio of 77.27, a P/E/G ratio of 2.31 and a beta of 1.01.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, August 8th. The local business review company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Yelp had a return on equity of 4.62% and a net margin of 6.26%. The business had revenue of $246.96 million for the quarter, compared to the consensus estimate of $247.63 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that Yelp Inc will post 0.66 earnings per share for the current year.

Yelp Company Profile (NYSE:YELP)

Yelp Inc operates a platform that connects consumers 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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