Stifel Nicolaus Lowers Yelp (YELP) Price Target to $34.00

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Yelp (NYSE:YELP) had its price target decreased by Stifel Nicolaus to $34.00 in a report issued on Friday, The Fly reports. Stifel Nicolaus currently has a hold rating on the local business review company’s stock.

A number of other research firms also recently weighed in on YELP. Zacks Investment Research upgraded shares of Yelp from a hold rating to a buy rating and set a $55.00 price target on the stock in a research note on Thursday, September 27th. Barclays raised their price target on shares of Yelp from $47.00 to $48.00 and gave the company an equal weight rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. raised their price target on shares of Yelp to $57.00 and gave the company an overweight rating in a research note on Thursday, August 9th. KeyCorp restated a hold rating on shares of Yelp in a research note on Thursday, August 9th. Finally, Jefferies Financial Group raised their price target on shares of Yelp from $53.00 to $55.00 and gave the company a buy rating in a research note on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. Yelp has an average rating of Hold and an average target price of $42.45.

Shares of YELP traded down $11.57 during mid-day trading on Friday, reaching $31.93. The company had a trading volume of 25,345,839 shares, compared to its average volume of 1,450,994. Yelp has a 1-year low of $29.33 and a 1-year high of $52.50. The company has a market cap of $3.75 billion, a P/E ratio of 498.22, a PEG ratio of 7.52 and a beta of 1.29.

Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. Yelp had a net margin of 17.64% and a return on equity of 0.74%. The company had revenue of $241.10 million for the quarter, compared to the consensus estimate of $245.55 million. During the same period last year, the company posted $0.29 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts predict that Yelp will post 0.3 earnings per share for the current fiscal year.

In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $43.94, for a total transaction of $175,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $47.00, for a total transaction of $611,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 223,500 shares of company stock valued at $10,135,885. 9.00% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its holdings in Yelp by 203.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 111,200 shares of the local business review company’s stock worth $4,357,000 after purchasing an additional 74,500 shares during the last quarter. Tenzing Global Management LLC raised its holdings in Yelp by 4.0% during the 2nd quarter. Tenzing Global Management LLC now owns 650,000 shares of the local business review company’s stock worth $25,467,000 after purchasing an additional 25,000 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Yelp by 0.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,131,550 shares of the local business review company’s stock worth $55,672,000 after purchasing an additional 3,785 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Yelp by 5,612.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 36,157 shares of the local business review company’s stock worth $1,418,000 after purchasing an additional 35,524 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in Yelp by 7.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 26,363 shares of the local business review company’s stock worth $1,033,000 after purchasing an additional 1,760 shares during the last quarter. Hedge funds and other institutional investors own 86.05% 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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