Yelp Inc. (NYSE:YELP) had its price objective boosted by Bank of America Corporation from $43.00 to $52.00 in a report released on Tuesday morning. They currently have a buy rating on the local business review company’s stock.
A number of other research firms have also weighed in on YELP. BidaskClub upgraded Yelp from a sell rating to a hold rating in a research report on Thursday, June 15th. Jefferies Group LLC reiterated a buy rating and issued a $37.00 price target on shares of Yelp in a research report on Friday, June 23rd. Robert W. Baird reiterated a neutral rating on shares of Yelp in a research report on Monday, July 3rd. Morgan Stanley reiterated an equal weight rating and issued a $26.00 price target (down previously from $28.00) on shares of Yelp in a research report on Thursday, July 20th. Finally, Roth Capital set a $21.00 price target on Yelp and gave the company a sell rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and twenty have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $40.35.
Shares of Yelp (YELP) opened at 44.41 on Tuesday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 281.08 and a beta of 1.34. Yelp has a 52-week low of $26.93 and a 52-week high of $46.76. The company has a 50 day moving average of $43.47 and a 200 day moving average of $35.34.
Yelp (NYSE:YELP) last released its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. The firm had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. Yelp had a return on equity of 1.60% and a net margin of 1.67%. Yelp’s revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. Analysts predict that Yelp will post $0.07 EPS for the current fiscal year.
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Yelp announced that its Board of Directors has authorized a stock buyback program on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to buy up to 7.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
In related news, CFO Charles Baker sold 3,921 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total value of $162,525.45. Following the sale, the chief financial officer now owns 112,941 shares of the company’s stock, valued at approximately $4,681,404.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Laurence Wilson sold 4,208 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $41.45, for a total value of $174,421.60. Following the completion of the sale, the senior vice president now directly owns 177,739 shares in the company, valued at approximately $7,367,281.55. The disclosure for this sale can be found here. Insiders have sold a total of 226,610 shares of company stock worth $9,485,130 in the last three months. 10.10% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in Yelp in the 2nd quarter valued at $108,000. FNY Partners Fund LP boosted its stake in Yelp by 18,650.0% in the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after purchasing an additional 3,730 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Yelp by 98.8% in the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after purchasing an additional 2,033 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in Yelp in the first quarter worth $163,000. Finally, Teacher Retirement System of Texas boosted its stake in Yelp by 11.8% in the first quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock worth $202,000 after purchasing an additional 653 shares in the last quarter. 90.85% of the stock is currently owned by institutional investors and hedge funds.
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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