Yelp (YELP) Lowered to “Neutral” at Wedbush

Wedbush downgraded shares of Yelp (NYSE:YELP) from an outperform rating to a neutral rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has $32.00 price objective on the local business review company’s stock, down from their prior price objective of $60.00.

YELP has been the subject of several other reports. Jefferies Financial Group increased their price objective on Yelp from $53.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded Yelp from a hold rating to a buy rating and set a $53.00 price objective for the company in a research note on Wednesday, August 15th. Royal Bank of Canada increased their price objective on Yelp to $62.00 and gave the stock an outperform rating in a research note on Monday, September 17th. Raymond James lowered Yelp from an outperform rating to a market perform rating in a research note on Friday. Finally, Robert W. Baird increased their price objective on Yelp from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $42.45.

Shares of NYSE YELP traded down $11.57 during trading hours on Friday, reaching $31.93. The stock had a trading volume of 25,345,839 shares, compared to its average volume of 1,450,994. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 498.22, a PEG ratio of 7.52 and a beta of 1.29. Yelp has a twelve month low of $29.33 and a twelve month high of $52.50.

Yelp (NYSE:YELP) last released its quarterly earnings data on Thursday, November 8th. The local business review company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.09. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The firm had revenue of $241.10 million during the quarter, compared to analyst estimates of $245.55 million. During the same period in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Yelp will post 0.3 EPS for the current year.

In other news, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $47.00, for a total value of $611,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Geoffrey L. Donaker sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $46.96, for a total value of $93,920.00. Following the completion of the sale, the director now owns 8,055 shares of the company’s stock, valued at $378,262.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 223,500 shares of company stock valued at $10,135,885. 9.00% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Yelp in the third quarter valued at $194,000. Janus Henderson Group PLC acquired a new stake in shares of Yelp in the second quarter valued at $206,000. Hartford Investment Management Co. acquired a new stake in shares of Yelp in the third quarter valued at $232,000. Gideon Capital Advisors Inc. acquired a new stake in shares of Yelp in the second quarter valued at $245,000. Finally, Brasada Capital Management LP increased its stake in shares of Yelp by 833.3% in the third quarter. Brasada Capital Management LP now owns 5,600 shares of the local business review company’s stock valued at $276,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 86.05% of the company’s stock.

Yelp Company Profile

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.

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Analyst Recommendations for Yelp (NYSE:YELP)

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