Yelp Inc. (NYSE:YELP) had its price objective reduced by analysts at Morgan Stanley from $28.00 to $26.00 in a research report issued to clients and investors on Thursday. The firm currently has an “equal weight” rating on the local business review company’s stock. Morgan Stanley’s price target points to a potential downside of 19.75% from the company’s previous close.
Several other equities research analysts also recently issued reports on YELP. B. Riley restated a “neutral” rating and set a $25.00 price objective on shares of Yelp in a report on Monday, May 15th. BidaskClub upgraded Yelp from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Loop Capital restated a “hold” rating on shares of Yelp in a report on Wednesday, April 19th. William Blair restated a “market perform” rating on shares of Yelp in a report on Wednesday, May 10th. Finally, Robert W. Baird dropped their price objective on Yelp from $40.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $34.90.
Shares of Yelp (NYSE YELP) traded down 1.46% during trading on Thursday, reaching $32.40. 1,966,704 shares of the company’s stock traded hands. The stock has a market capitalization of $2.61 billion, a PE ratio of 437.84 and a beta of 1.46. The company has a 50 day moving average price of $30.32 and a 200 day moving average price of $33.86. Yelp has a 1-year low of $26.93 and a 1-year high of $43.41.
Yelp (NYSE:YELP) last posted its quarterly earnings data on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Yelp had a return on equity of 0.77% and a net margin of 0.80%. The company had revenue of $197.32 million for the quarter, compared to the consensus estimate of $198.51 million. During the same period in the previous year, the business earned $0.08 EPS. Yelp’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities analysts forecast that Yelp will post ($0.08) EPS for the current fiscal year.
In other news, Director Geoffrey L. Donaker sold 4,000 shares of the company’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $33.95, for a total transaction of $135,800.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at $325,580.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joseph R. Nachman sold 3,500 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $35.99, for a total value of $125,965.00. Following the sale, the chief operating officer now directly owns 141,404 shares of the company’s stock, valued at $5,089,129.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,751 shares of company stock valued at $1,940,715. 10.10% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in YELP. BlackRock Inc. raised its position in Yelp by 3,803.3% in the first quarter. BlackRock Inc. now owns 2,829,444 shares of the local business review company’s stock valued at $92,666,000 after buying an additional 2,756,955 shares during the last quarter. Point72 Asset Management L.P. raised its position in Yelp by 1,088.8% in the first quarter. Point72 Asset Management L.P. now owns 2,661,644 shares of the local business review company’s stock valued at $87,169,000 after buying an additional 2,437,744 shares during the last quarter. Fisher Asset Management LLC raised its position in Yelp by 658.2% in the second quarter. Fisher Asset Management LLC now owns 2,459,293 shares of the local business review company’s stock valued at $73,828,000 after buying an additional 2,134,942 shares during the last quarter. Wells Fargo & Company MN raised its position in Yelp by 375.5% in the first quarter. Wells Fargo & Company MN now owns 1,388,422 shares of the local business review company’s stock valued at $45,470,000 after buying an additional 1,096,446 shares during the last quarter. Finally, Norges Bank acquired a new position in Yelp during the fourth quarter valued at $32,017,000. 89.18% of the stock is owned by institutional investors and hedge funds.
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.