Yelp (YELP) Receives Hold Rating from SunTrust Banks

SunTrust Banks restated their hold rating on shares of Yelp (NYSE:YELP) in a research note published on Friday morning, Marketbeat.com reports. They currently have a $35.00 price objective on the local business review company’s stock, down from their prior price objective of $51.00.

“We’re lowering our numbers to 10% revenue growth/250bps EBITDA margin expansion, per the company’s new guidance framework, and our price target to $35 (10x 2019 FCF, vs 24% EBITDA growth). .”,” SunTrust Banks’ analyst commented.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus boosted their target price on shares of Yelp from $40.00 to $42.00 and gave the company a hold rating in a research report on Thursday, August 9th. Zacks Investment Research downgraded shares of Yelp from a buy rating to a hold rating in a research report on Friday, September 28th. Cowen set a $39.00 target price on shares of Yelp and gave the company a hold rating in a research report on Friday. KeyCorp restated a hold rating on shares of Yelp in a research report on Thursday, August 9th. Finally, Deutsche Bank downgraded shares of Yelp from a buy rating to a hold rating and decreased their target price for the company from $64.00 to $34.00 in a research report on Friday. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $42.45.

Shares of NYSE:YELP traded down $11.57 on Friday, hitting $31.93. 25,345,839 shares of the company were exchanged, compared to its average volume of 1,450,994. Yelp has a 1-year low of $29.33 and a 1-year high of $52.50. The company has a market capitalization of $3.75 billion, a P/E ratio of 498.22, a PEG ratio of 7.52 and a beta of 1.29.

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

In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $48.22, for a total value of $192,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Geoffrey L. Donaker sold 2,000 shares of Yelp stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $46.96, for a total transaction of $93,920.00. Following the completion of the transaction, the director now directly owns 8,055 shares of the company’s stock, valued at approximately $378,262.80. The disclosure for this sale can be found here. Insiders sold 223,500 shares of company stock valued at $10,135,885 in the last ninety days. 9.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in YELP. BlackRock Inc. increased its holdings in Yelp by 28.7% in the second 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 in the last quarter. Macquarie Group Ltd. increased its holdings in Yelp by 126.7% in the second 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in Yelp by 647.5% in the second 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 in the last quarter. FMR LLC purchased a new position in Yelp in the third quarter valued at $20,179,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its holdings in Yelp by 15.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,096,725 shares of the local business review company’s stock valued at $82,149,000 after buying an additional 285,890 shares in the last quarter. 86.05% of the stock is owned by institutional investors.

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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