Yelp (NYSE:YELP) Trading Up 15.4% After Analyst Upgrade

Yelp Inc (NYSE:YELP)’s stock price traded up 15.4% during mid-day trading on Friday after Morgan Stanley raised their price target on the stock from $31.00 to $32.00. Morgan Stanley currently has an underweight rating on the stock. Yelp traded as high as $35.92 and last traded at $34.77, 5,134,055 shares were traded during mid-day trading. An increase of 229% from the average session volume of 1,562,612 shares. The stock had previously closed at $30.12.

Several other research firms have also issued reports on YELP. Evercore ISI set a $38.00 target price on Yelp and gave the stock a “hold” rating in a research note on Friday, August 9th. Oppenheimer reissued a “hold” rating on shares of Yelp in a research note on Friday, August 9th. Aegis reissued a “buy” rating and set a $45.00 target price on shares of Yelp in a research note on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $44.00 target price (up previously from $42.00) on shares of Yelp in a research note on Friday, August 9th. Finally, SunTrust Banks set a $37.00 target price on Yelp and gave the stock a “hold” rating in a research note on Sunday, November 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. Yelp presently has a consensus rating of “Hold” and a consensus price target of $39.86.

A number of hedge funds and other institutional investors have recently modified their holdings of YELP. Douglas Lane & Associates LLC increased its holdings in shares of Yelp by 5.1% in the 2nd quarter. Douglas Lane & Associates LLC now owns 733,237 shares of the local business review company’s stock valued at $25,062,000 after acquiring an additional 35,574 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Yelp by 12.4% in the 2nd quarter. Retirement Systems of Alabama now owns 265,466 shares of the local business review company’s stock valued at $9,074,000 after acquiring an additional 29,231 shares during the last quarter. Ingalls & Snyder LLC increased its holdings in shares of Yelp by 2.6% in the 2nd quarter. Ingalls & Snyder LLC now owns 143,094 shares of the local business review company’s stock valued at $4,891,000 after acquiring an additional 3,662 shares during the last quarter. TB Alternative Assets Ltd. purchased a new position in shares of Yelp in the 2nd quarter valued at about $4,960,000. Finally, Capital Impact Advisors LLC purchased a new position in shares of Yelp in the 2nd quarter valued at about $2,236,000. Institutional investors own 92.66% of the company’s stock.

The firm has a market cap of $2.36 billion, a PE ratio of 77.27, a P/E/G ratio of 2.31 and a beta of 1.01. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average price of $33.88 and a 200 day moving average price of $34.24.

Yelp (NYSE:YELP) last released its quarterly earnings data on Thursday, August 8th. The local business review company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $246.96 million for the quarter, compared to the consensus estimate of $247.63 million. Yelp had a return on equity of 4.62% and a net margin of 6.26%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.12 EPS. On average, research analysts expect that Yelp Inc will post 0.66 earnings per share for the current fiscal year.

About Yelp (NYSE:YELP)

Yelp Inc operates a platform that connects consumers 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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