Yelp Inc. (YELP) Stock Rating Reaffirmed by Goldman Sachs Group, Inc. (The)

Yelp Inc. (NYSE:YELP)‘s stock had its “neutral” rating reissued by Goldman Sachs Group, Inc. (The) in a report released on Wednesday. They currently have a $42.00 price target on the local business review company’s stock. Goldman Sachs Group, Inc. (The)’s price target would suggest a potential downside of 4.00% from the company’s previous close.

YELP has been the topic of several other research reports. Roth Capital raised shares of Yelp from a “sell” rating to a “neutral” rating and increased their price target for the stock from $21.00 to $35.00 in a research report on Friday, August 4th. Credit Suisse Group set a $40.00 price target on shares of Yelp and gave the stock a “buy” rating in a research report on Friday, August 4th. BidaskClub cut shares of Yelp from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $37.00 price target (up previously from $26.00) on shares of Yelp in a research report on Thursday, August 10th. Finally, KeyCorp reaffirmed a “buy” rating and set a $54.00 price target on shares of Yelp in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, twenty have given a hold rating and eighteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $40.58.

Shares of Yelp (YELP) opened at 43.75 on Wednesday. Yelp has a 12-month low of $26.93 and a 12-month high of $46.76. The stock has a 50 day moving average price of $43.57 and a 200 day moving average price of $35.46. The stock has a market capitalization of $3.58 billion, a P/E ratio of 276.90 and a beta of 1.34.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. During the same quarter last year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities analysts anticipate that Yelp will post $0.07 earnings per share for the current fiscal year.

Yelp declared that its board has approved a share repurchase program on Thursday, August 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the local business review company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

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In related news, SVP Laurence Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $42.00, for a total value of $420,000.00. Following the completion of the transaction, the senior vice president now owns 191,947 shares of the company’s stock, valued at approximately $8,061,774. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $45.55, for a total transaction of $273,300.00. The disclosure for this sale can be found here. Insiders sold a total of 232,610 shares of company stock valued at $9,758,430 in the last ninety days. Company insiders own 10.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in Yelp in the 2nd quarter worth approximately $108,000. FNY Partners Fund LP boosted its stake in shares of Yelp by 18,650.0% during the 1st quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock valued at $122,000 after buying an additional 3,730 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Yelp by 98.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after buying an additional 2,033 shares during the period. FNY Managed Accounts LLC acquired a new stake in shares of Yelp during the 1st quarter valued at $163,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Yelp by 11.8% during the 1st quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock valued at $202,000 after buying an additional 653 shares during the period. 90.85% of the stock is owned by hedge funds and other institutional investors.

About Yelp

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.

Analyst Recommendations for Yelp (NYSE:YELP)

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