Royal Bank Of Canada upgraded shares of Yelp Inc. (NYSE:YELP) from a sector perform rating to an outperform rating in a research note released on Thursday, November 2nd, Marketbeat.com reports. Royal Bank Of Canada currently has $55.00 price objective on the local business review company’s stock, up from their previous price objective of $36.00.
YELP has been the topic of several other research reports. Piper Jaffray Companies reissued a hold rating and issued a $37.00 target price on shares of Yelp in a research note on Friday, August 4th. Roth Capital raised Yelp from a sell rating to a neutral rating and raised their price target for the stock from $21.00 to $35.00 in a research report on Friday, August 4th. KeyCorp reaffirmed a buy rating and set a $54.00 price target on shares of Yelp in a research report on Tuesday, October 17th. Cantor Fitzgerald reaffirmed a hold rating and set a $44.00 price target on shares of Yelp in a research report on Wednesday, November 1st. Finally, B. Riley reaffirmed a hold rating and set a $39.00 price target on shares of Yelp in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $43.37.
Yelp (YELP) opened at $45.90 on Thursday. The stock has a market capitalization of $3,811.24, a PE ratio of 209.00, a P/E/G ratio of 10.33 and a beta of 1.29. Yelp has a 1-year low of $26.93 and a 1-year high of $48.17.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.30. Yelp had a return on equity of 2.20% and a net margin of 2.31%. The business had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $220.75 million. During the same quarter last year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. equities analysts expect that Yelp will post 0.17 earnings per share for the current fiscal year.
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Yelp declared that its board has authorized a share repurchase program on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other news, SVP Laurence Wilson sold 4,208 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total value of $174,421.60. Following the completion of the sale, the senior vice president now directly owns 177,739 shares of the company’s stock, valued at $7,367,281.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $45.59, for a total value of $273,540.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at $437,208.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 300,481 shares of company stock worth $13,254,185. 10.10% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Dorsey Asset Management LLC bought a new position in shares of Yelp in the second quarter valued at approximately $22,095,000. First Manhattan Co. bought a new position in shares of Yelp in the second quarter valued at approximately $11,158,000. Capital Fund Management S.A. grew its holdings in shares of Yelp by 113.2% in the second quarter. Capital Fund Management S.A. now owns 714,639 shares of the local business review company’s stock valued at $21,453,000 after acquiring an additional 379,367 shares in the last quarter. Ingalls & Snyder LLC grew its holdings in shares of Yelp by 17.0% in the third quarter. Ingalls & Snyder LLC now owns 97,521 shares of the local business review company’s stock valued at $4,223,000 after acquiring an additional 14,171 shares in the last quarter. Finally, AHL Partners LLP bought a new position in shares of Yelp in the second quarter valued at approximately $2,292,000. 87.69% of the stock is owned by institutional investors.
Yelp Company Profile
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.
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