Yelp Inc. (NYSE:YELP – Get Rating) has been assigned a consensus rating of "Hold" from the nine analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $38.00.
YELP has been the subject of several analyst reports. Credit Suisse Group increased their target price on shares of Yelp from $45.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, August 8th. BMO Capital Markets lowered their price objective on Yelp from $42.00 to $37.00 in a research report on Tuesday, May 10th. Evercore ISI increased their target price on Yelp from $35.00 to $41.00 and gave the company an "in-line" rating in a research report on Friday, August 5th. The Goldman Sachs Group increased their target price on shares of Yelp from $33.00 to $37.00 and gave the company a "neutral" rating in a research note on Monday, August 8th. Finally, StockNews.com downgraded Yelp from a "strong-buy" rating to a "buy" rating in a report on Thursday, July 14th.
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Insider Buying and Selling at Yelp
In other news, COO Joseph R. Nachman sold 6,000 shares of Yelp stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $35.21, for a total transaction of $211,260.00. Following the completion of the sale, the chief operating officer now directly owns 298,983 shares in the company, valued at approximately $10,527,191.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $35.21, for a total transaction of $211,260.00. Following the sale, the chief operating officer now owns 298,983 shares in the company, valued at approximately $10,527,191.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David A. Schwarzbach sold 2,000 shares of the business's stock in a transaction on Monday, August 15th. The stock was sold at an average price of $37.87, for a total value of $75,740.00. Following the completion of the transaction, the chief financial officer now directly owns 199,058 shares of the company's stock, valued at $7,538,326.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,000 shares of company stock valued at $757,540. 7.70% of the stock is owned by company insiders.
Hedge Funds Weigh In On Yelp
A number of institutional investors have recently modified their holdings of YELP. Meritage Portfolio Management lifted its stake in shares of Yelp by 10.8% during the 1st quarter. Meritage Portfolio Management now owns 8,546 shares of the local business review company's stock worth $292,000 after purchasing an additional 834 shares during the period. IndexIQ Advisors LLC acquired a new stake in Yelp in the 1st quarter worth about $391,000. Cannon Global Investment Management LLC purchased a new stake in Yelp in the 1st quarter valued at about $665,000. KBC Group NV increased its stake in shares of Yelp by 376.2% during the 1st quarter. KBC Group NV now owns 10,419 shares of the local business review company's stock valued at $355,000 after acquiring an additional 8,231 shares during the last quarter. Finally, Capital Fund Management S.A. boosted its position in shares of Yelp by 42.4% in the fourth quarter. Capital Fund Management S.A. now owns 140,216 shares of the local business review company's stock worth $5,081,000 after acquiring an additional 41,774 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company's stock.
Yelp Stock Performance
Yelp stock opened at $33.79 on Wednesday. The stock has a market cap of $2.40 billion, a PE ratio of 53.64 and a beta of 1.54. The stock has a fifty day moving average of $32.12 and a 200 day moving average of $32.20. Yelp has a one year low of $26.28 and a one year high of $41.28.
Yelp (NYSE:YELP – Get Rating) last announced its earnings results on Thursday, August 4th. The local business review company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.10. The company had revenue of $298.90 million during the quarter, compared to analyst estimates of $284.30 million. Yelp had a net margin of 4.32% and a return on equity of 6.50%. The firm's quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 earnings per share. As a group, sell-side analysts predict that Yelp will post 0.63 EPS for the current fiscal year.
About Yelp
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Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.
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