Goldman Sachs Group started coverage on shares of Yelp (NYSE:YELP) in a report published on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $42.00 price objective on the local business review company’s stock.
YELP has been the topic of a number of other research reports. Raymond James cut shares of Yelp from an outperform rating to a market perform rating in a report on Friday, November 9th. Wedbush cut shares of Yelp from an outperform rating to a neutral rating and cut their target price for the stock from $60.00 to $32.00 in a report on Friday, November 9th. Deutsche Bank cut shares of Yelp from a buy rating to a hold rating and cut their target price for the stock from $64.00 to $34.00 in a report on Friday, November 9th. JPMorgan Chase & Co. cut shares of Yelp from an overweight rating to a neutral rating and cut their target price for the stock from $57.00 to $36.00 in a report on Friday, November 9th. Finally, Royal Bank of Canada cut their target price on shares of Yelp to $38.00 and set a positive rating on the stock in a report on Friday, November 9th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. Yelp presently has an average rating of Hold and an average target price of $40.27.
Get Yelp alerts:Shares of YELP stock opened at $37.83 on Monday. Yelp has a one year low of $29.33 and a one year high of $52.50. The stock has a market cap of $3.09 billion, a PE ratio of 540.43, a P/E/G ratio of 2.96 and a beta of 1.05.
Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. Yelp had a net margin of 18.04% and a return on equity of 1.34%. The business had revenue of $241.10 million for the quarter, compared to analysts’ expectations of $245.55 million. During the same quarter last year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts forecast that Yelp will post 0.37 EPS for the current fiscal year.
In other Yelp news, insider Alan Ramsay sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $33.19, for a total value of $165,950.00. Following the sale, the insider now owns 35,234 shares in the company, valued at $1,169,416.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geoffrey L. Donaker sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $34.09, for a total transaction of $68,180.00. The disclosure for this sale can be found here. Insiders sold 35,483 shares of company stock worth $1,189,666 in the last 90 days. 9.00% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Glenmede Trust Co. NA increased its stake in shares of Yelp by 9,220.4% during the third quarter. Glenmede Trust Co. NA now owns 937,637 shares of the local business review company’s stock valued at $46,131,000 after acquiring an additional 927,577 shares during the period. BlackRock Inc. increased its stake in shares of Yelp by 8.5% during the third quarter. BlackRock Inc. now owns 7,760,435 shares of the local business review company’s stock valued at $381,814,000 after acquiring an additional 606,426 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Yelp by 647.5% during 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 acquiring an additional 560,847 shares during the period. FMR LLC acquired a new position in shares of Yelp during the third quarter valued at approximately $20,179,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Yelp by 9.4% during the third quarter. Allianz Asset Management GmbH now owns 3,345,227 shares of the local business review company’s stock valued at $164,585,000 after acquiring an additional 288,790 shares during the period. Institutional investors own 89.47% 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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