Yelp Inc. (YELP) Stock Rating Reaffirmed by KeyCorp
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.
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.
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