Yelp Inc. (YELP) Price Target Raised to $49.00
Yelp Inc. (NYSE:YELP) had its target price raised by Jefferies Group LLC from $43.00 to $49.00 in a research report released on Friday morning. The brokerage currently has a buy rating on the local business review company’s stock.
Other equities analysts have also recently issued reports about the company. Needham & Company LLC reissued a buy rating and set a $30.00 price target (down from $45.00) on shares of Yelp in a report on Wednesday, May 10th. Cantor Fitzgerald reaffirmed a buy rating and issued a $46.00 target price on shares of Yelp in a report on Friday, May 5th. Vetr raised Yelp from a hold rating to a buy rating and set a $36.94 target price on the stock in a report on Wednesday, May 3rd. Maxim Group reaffirmed a buy rating and issued a $41.00 target price (down from $45.00) on shares of Yelp in a report on Wednesday, May 10th. Finally, Goldman Sachs Group, Inc. (The) raised Yelp from a neutral rating to a buy rating and decreased their target price for the stock from $42.00 to $34.00 in a report on Wednesday, May 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $38.13.
Yelp (YELP) opened at 42.14 on Friday. Yelp has a one year low of $26.93 and a one year high of $43.41. The firm has a 50-day moving average price of $36.29 and a 200-day moving average price of $33.38. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 266.71 and a beta of 1.48.
Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.12. The firm had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. Analysts expect that Yelp will post $0.07 EPS for the current year.
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Yelp announced that its Board of Directors has initiated a stock buyback program 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 reacquire up to 7.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $27.65, for a total value of $110,600.00. Following the completion of the sale, the director now owns 9,590 shares of the company’s stock, valued at $265,163.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Charles Baker sold 3,921 shares of Yelp stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $41.45, for a total transaction of $162,525.45. Following the sale, the chief financial officer now directly owns 112,941 shares of the company’s stock, valued at approximately $4,681,404.45. The disclosure for this sale can be found here. In the last three months, insiders sold 151,240 shares of company stock valued at $5,931,159. 10.10% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new stake in Yelp during the second quarter valued at $205,000. California State Teachers Retirement System increased its stake in Yelp by 1.0% in the second quarter. California State Teachers Retirement System now owns 137,621 shares of the local business review company’s stock valued at $4,131,000 after buying an additional 1,427 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Yelp by 314.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 44,413 shares of the local business review company’s stock valued at $1,333,000 after buying an additional 33,693 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Yelp by 2,704.0% in the second quarter. The Manufacturers Life Insurance Company now owns 59,922 shares of the local business review company’s stock valued at $1,798,000 after buying an additional 57,785 shares in the last quarter. Finally, Prescott General Partners LLC increased its stake in Yelp by 21.3% in the second quarter. Prescott General Partners LLC now owns 3,851,774 shares of the local business review company’s stock valued at $115,630,000 after buying an additional 676,251 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.
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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