Stifel Nicolaus Boosts Yelp (NYSE:YELP) Price Target to $42.00

Yelp (NYSE:YELP) had its target price raised by Stifel Nicolaus from $40.00 to $42.00 in a research report report published on Thursday, August 9th, Marketbeat reports. Stifel Nicolaus currently has a hold rating on the local business review company’s stock.

Other equities analysts have also issued research reports about the company. Aegis lowered Yelp to a sell rating in a research report on Wednesday, June 20th. B. Riley raised Yelp from a neutral rating to a buy rating and boosted their target price for the stock from $42.00 to $58.00 in a research report on Friday, May 18th. Wedbush reissued a neutral rating on shares of Yelp in a research report on Wednesday, May 16th. Credit Suisse Group boosted their price target on Yelp from $55.00 to $60.00 and gave the company an outperform rating in a research note on Friday, May 11th. Finally, ValuEngine upgraded Yelp from a sell rating to a hold rating in a research note on Tuesday, May 1st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the stock. Yelp currently has a consensus rating of Hold and a consensus target price of $48.13.

Yelp stock traded up $0.30 on Thursday, hitting $47.12. 849,600 shares of the stock traded hands, compared to its average volume of 1,750,693. The firm has a market capitalization of $3.91 billion, a P/E ratio of 675.36, a P/E/G ratio of 8.49 and a beta of 0.96. Yelp has a 1 year low of $36.42 and a 1 year high of $51.33.

Yelp (NYSE:YELP) last posted its quarterly earnings results on Wednesday, August 8th. The local business review company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.14. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The firm had revenue of $234.90 million during the quarter, compared to analyst estimates of $232.26 million. During the same quarter in the previous year, the firm earned $0.25 EPS. Yelp’s quarterly revenue was up 11.9% compared to the same quarter last year. equities analysts expect that Yelp will post 0.28 EPS for the current year.

In other news, CEO Jeremy Stoppelman sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $41.88, for a total transaction of $544,440.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Geoffrey L. Donaker sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $47.00, for a total value of $94,000.00. Following the sale, the director now directly owns 8,055 shares in the company, valued at $378,585. The disclosure for this sale can be found here. Insiders sold a total of 219,803 shares of company stock valued at $9,416,085 over the last 90 days. 9.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in Yelp by 28.7% during the 2nd quarter. BlackRock Inc. now owns 7,154,009 shares of the local business review company’s stock valued at $280,295,000 after buying an additional 1,597,355 shares during the period. Victory Capital Management Inc. raised its holdings in Yelp by 3,318.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,113,620 shares of the local business review company’s stock valued at $46,494,000 after buying an additional 1,081,040 shares during the period. Macquarie Group Ltd. raised its holdings in Yelp by 126.7% during the 2nd quarter. Macquarie Group Ltd. now owns 1,105,663 shares of the local business review company’s stock valued at $43,320,000 after buying an additional 617,864 shares during the period. Dimensional Fund Advisors LP raised its holdings in Yelp by 647.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 647,466 shares of the local business review company’s stock valued at $25,368,000 after buying an additional 560,847 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Yelp during the 1st quarter valued at $20,291,000. 95.25% of the stock is currently owned by institutional investors and hedge funds.

About Yelp

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

Recommended Story: How Do Tariffs Affect Trade Balances?

Analyst Recommendations for Yelp (NYSE:YELP)

Receive News & Ratings for Yelp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply