Yelp (YELP) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Yelp (NYSE:YELP) from a sell rating to a hold rating in a report published on Friday, March 9th.

According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “

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Several other research firms have also recently commented on YELP. Piper Jaffray reiterated an underweight rating and set a $37.00 price target (down previously from $38.00) on shares of Yelp in a report on Thursday, December 7th. Bank of America upped their target price on shares of Yelp from $52.00 to $55.00 and gave the company a buy rating in a report on Wednesday, January 24th. Evercore ISI initiated coverage on shares of Yelp in a research report on Tuesday, December 5th. They issued an in-line rating and a $46.00 price target for the company. JPMorgan Chase upped their price objective on shares of Yelp from $52.00 to $55.00 and gave the stock an overweight rating in a research report on Monday, December 18th. Finally, Credit Suisse Group cut their price objective on shares of Yelp from $51.00 to $50.00 and set a buy rating for the company in a research report on Thursday, February 8th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have given a buy rating to the company. Yelp currently has a consensus rating of Hold and an average price target of $43.56.

YELP stock traded down $1.04 during trading on Friday, reaching $40.71. 1,219,525 shares of the stock were exchanged, compared to its average volume of 1,449,247. The company has a market capitalization of $3,485.04, a PE ratio of 581.57, a price-to-earnings-growth ratio of 6.43 and a beta of 1.12. Yelp has a 1 year low of $26.93 and a 1 year high of $48.40.

Yelp (NYSE:YELP) last released its quarterly earnings results on Wednesday, February 7th. The local business review company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.16. Yelp had a net margin of 18.05% and a return on equity of 0.23%. The business had revenue of $218.25 million for the quarter, compared to the consensus estimate of $215.12 million. analysts anticipate that Yelp will post 0.25 earnings per share for the current fiscal year.

In related news, COO Joseph R. Nachman sold 14,500 shares of Yelp stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $41.84, for a total transaction of $606,680.00. Following the sale, the chief operating officer now directly owns 127,855 shares in the company, valued at $5,349,453.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $42.06, for a total transaction of $252,360.00. Following the completion of the sale, the director now owns 9,590 shares in the company, valued at $403,355.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,000 shares of company stock worth $8,860,265. Company insiders own 10.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB bought a new stake in Yelp in the fourth quarter worth about $314,000. William Blair Investment Management LLC raised its position in Yelp by 20.8% in the fourth quarter. William Blair Investment Management LLC now owns 3,167,281 shares of the local business review company’s stock worth $132,899,000 after acquiring an additional 546,282 shares in the last quarter. Slow Capital Inc. bought a new stake in Yelp in the fourth quarter worth about $163,000. MetLife Investment Advisors LLC bought a new stake in Yelp in the fourth quarter worth about $1,526,000. Finally, Verition Fund Management LLC bought a new stake in Yelp in the fourth quarter worth about $377,000. Hedge funds and other institutional investors own 87.82% of the company’s stock.

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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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