Yelp (NYSE:YELP) Upgraded at StockNews.com

StockNews.com upgraded shares of Yelp (NYSE:YELPGet Rating) from a buy rating to a strong-buy rating in a report released on Friday morning.

Separately, Zacks Investment Research raised shares of Yelp from a hold rating to a strong-buy rating and set a $39.00 price objective for the company in a research note on Thursday, April 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Yelp presently has an average rating of Hold and an average price target of $39.57.

Shares of YELP traded down $1.40 during midday trading on Friday, hitting $30.84. 945,092 shares of the company traded hands, compared to its average volume of 489,325. The firm has a 50 day moving average of $33.71 and a 200-day moving average of $35.24. Yelp has a 52 week low of $30.19 and a 52 week high of $43.28. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 54.11 and a beta of 1.66.

Yelp (NYSE:YELPGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The local business review company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. Yelp had a net margin of 3.84% and a return on equity of 5.02%. The firm had revenue of $276.60 million during the quarter, compared to the consensus estimate of $266.60 million. During the same quarter last year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, equities analysts anticipate that Yelp will post 1.06 EPS for the current year.

In other news, CTO Sam Eaton sold 6,679 shares of the business’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $34.76, for a total transaction of $232,162.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph R. Nachman sold 6,000 shares of the business’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $34.81, for a total transaction of $208,860.00. Following the sale, the chief operating officer now directly owns 342,102 shares of the company’s stock, valued at approximately $11,908,570.62. The disclosure for this sale can be found here. Insiders sold 46,679 shares of company stock worth $1,604,162 over the last ninety days. Corporate insiders own 9.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in YELP. Morgan Stanley lifted its holdings in shares of Yelp by 1,703.4% in the 2nd quarter. Morgan Stanley now owns 1,130,357 shares of the local business review company’s stock worth $45,170,000 after acquiring an additional 1,067,679 shares during the last quarter. Norges Bank purchased a new stake in shares of Yelp in the 4th quarter valued at approximately $27,391,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Yelp in the 3rd quarter valued at approximately $28,071,000. Acadian Asset Management LLC grew its position in shares of Yelp by 37.0% in the 4th quarter. Acadian Asset Management LLC now owns 1,650,838 shares of the local business review company’s stock valued at $59,806,000 after buying an additional 445,602 shares during the last quarter. Finally, Tenzing Global Management LLC grew its position in shares of Yelp by 31.3% in the 3rd quarter. Tenzing Global Management LLC now owns 1,575,000 shares of the local business review company’s stock valued at $58,653,000 after buying an additional 375,000 shares during the last quarter. 88.33% of the stock is owned by institutional investors.

Yelp Company Profile (Get Rating)

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.

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