Roth Capital Reiterates $21.00 Price Target for Yelp Inc. (YELP)
Several other equities research analysts have also weighed in on YELP. Pacific Crest raised shares of Yelp from a sector weight rating to an overweight rating and upped their target price for the stock from $33.41 to $43.00 in a report on Tuesday, April 11th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Yelp in a report on Monday, April 10th. Loop Capital reaffirmed a hold rating on shares of Yelp in a report on Wednesday, April 19th. Vetr lowered shares of Yelp from a strong-buy rating to a buy rating and set a $36.94 target price on the stock. in a report on Thursday, April 20th. Finally, Cowen and Company reissued a market perform rating and set a $39.00 price objective on shares of Yelp in a report on Monday, April 24th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $37.95.
Yelp (NYSE YELP) traded up 2.69% on Monday, reaching $42.03. 3,520,108 shares of the company’s stock were exchanged. Yelp has a 12-month low of $26.93 and a 12-month high of $43.41. The firm has a 50 day moving average of $33.08 and a 200-day moving average of $33.42. The company has a market cap of $3.44 billion, a P/E ratio of 266.01 and a beta of 1.48.
Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The firm had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts expect that Yelp will post $0.07 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Roth Capital Reiterates $21.00 Price Target for Yelp Inc. (YELP)” was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://theolympiareport.com/2017/08/12/yelp-inc-yelp-pt-set-at-21-00-by-roth-capital-updated.html.
Yelp declared that its board has authorized a stock repurchase plan on Thursday, August 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
In related news, COO Joseph R. Nachman sold 3,789 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total value of $106,963.47. Following the completion of the transaction, the chief operating officer now directly owns 137,615 shares of the company’s stock, valued at $3,884,871.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Laurence Wilson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $42.00, for a total transaction of $420,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,947 shares of the company’s stock, valued at $8,061,774. The disclosure for this sale can be found here. Insiders sold 119,751 shares of company stock valued at $4,261,130 over the last three months. 10.10% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Jackson Square Partners LLC increased its stake in shares of Yelp by 2.3% in the second quarter. Jackson Square Partners LLC now owns 2,070,578 shares of the local business review company’s stock valued at $62,158,000 after buying an additional 46,328 shares in the last quarter. FMR LLC acquired a new stake in shares of Yelp during the second quarter valued at about $2,402,000. Vanguard Group Inc. increased its stake in shares of Yelp by 4.1% in the second quarter. Vanguard Group Inc. now owns 5,935,362 shares of the local business review company’s stock valued at $178,180,000 after buying an additional 231,754 shares in the last quarter. Stonerise Capital Management LLC increased its stake in shares of Yelp by 30.8% in the second quarter. Stonerise Capital Management LLC now owns 339,700 shares of the local business review company’s stock valued at $10,198,000 after buying an additional 80,000 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Yelp by 171.3% in the second quarter. Northern Trust Corp now owns 968,313 shares of the local business review company’s stock valued at $29,069,000 after buying an additional 611,461 shares in the last quarter. 94.79% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Yelp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.