Yelp Inc. (NYSE:YELP)‘s stock had its “buy” rating reissued by KeyCorp in a research note issued on Wednesday. They currently have a $54.00 price target on the local business review company’s stock. KeyCorp’s target price would indicate a potential upside of 17.90% from the company’s current price.

Several other analysts have also recently issued reports on the company. Piper Jaffray Companies reaffirmed a “hold” rating and set a $37.00 target price on shares of Yelp in a research report on Friday, August 4th. Roth Capital upgraded Yelp from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $21.00 to $35.00 in a research note on Friday, August 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 price objective (down previously from $28.00) on shares of Yelp in a research report on Thursday, July 20th. MKM Partners raised Yelp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $27.00 to $31.31 in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $46.00 target price on shares of Yelp in a research note on Friday, August 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $39.78.

Yelp (NYSE YELP) traded down 0.09% during midday trading on Wednesday, reaching $45.76. The company’s stock had a trading volume of 862,817 shares. The company has a market cap of $3.74 billion, a P/E ratio of 289.62 and a beta of 1.34. Yelp has a 12-month low of $26.93 and a 12-month high of $45.93. The firm has a 50 day moving average price of $42.87 and a 200-day moving average price of $34.89.

Yelp (NYSE:YELP) last posted its earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business had revenue of $209.90 million for the quarter, compared to the consensus estimate of $204.89 million. During the same quarter last year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts predict that Yelp will post $0.07 earnings per share for the current fiscal year.

Yelp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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In related news, COO Joseph R. Nachman sold 6,500 shares of Yelp stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.28, for a total value of $248,820.00. Following the completion of the sale, the chief operating officer now owns 131,115 shares in the company, valued at approximately $5,019,082.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles Baker sold 3,921 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $41.45, for a total value of $162,525.45. Following the completion of the sale, the chief financial officer now directly owns 112,941 shares in the company, valued at approximately $4,681,404.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 208,240 shares of company stock worth $8,648,899. 10.10% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of YELP. Amalgamated Bank lifted its stake in Yelp by 0.9% during the 2nd quarter. Amalgamated Bank now owns 9,993 shares of the local business review company’s stock worth $300,000 after acquiring an additional 88 shares in the last quarter. Pier 88 Investment Partners LLC grew its position in Yelp by 1.7% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 17,580 shares of the local business review company’s stock valued at $528,000 after acquiring an additional 300 shares in the last quarter. Teacher Retirement System of Texas grew its position in Yelp by 11.8% in the 1st quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock valued at $202,000 after acquiring an additional 653 shares in the last quarter. United Capital Financial Advisers LLC grew its position in Yelp by 12.7% in the 1st quarter. United Capital Financial Advisers LLC now owns 11,447 shares of the local business review company’s stock valued at $375,000 after acquiring an additional 1,292 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Yelp by 1.0% in the 2nd 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 acquiring an additional 1,427 shares in the last quarter. Hedge funds and other institutional investors own 90.85% of the company’s stock.

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.

Analyst Recommendations for Yelp (NYSE:YELP)

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