Q3 2024 EPS Estimates for Yelp Inc. Raised by Zacks Research (NYSE:YELP)

Yelp Inc. (NYSE:YELP) – Investment analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for shares of Yelp in a research report issued to clients and investors on Wednesday, April 17th. Zacks Research analyst R. Department now anticipates that the local business review company will post earnings per share of $0.51 for the quarter, up from their previous estimate of $0.48. The consensus estimate for Yelp’s current full-year earnings is $1.53 per share. Zacks Research also issued estimates for Yelp’s FY2024 earnings at $1.45 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at $1.95 EPS.

Several other equities research analysts also recently commented on the company. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 24th. Raymond James assumed coverage on Yelp in a report on Wednesday, March 27th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $41.75.

Yelp Stock Performance

Shares of NYSE:YELP opened at $39.29 on Friday. The company has a market cap of $2.68 billion, a P/E ratio of 29.10 and a beta of 1.49. Yelp has a one year low of $26.53 and a one year high of $48.99. The business’s 50-day simple moving average is $39.13 and its 200 day simple moving average is $42.57.

Yelp (NYSE:YELP) last announced its earnings results on Thursday, February 15th. The local business review company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $342.38 million for the quarter, compared to the consensus estimate of $341.83 million. Yelp had a return on equity of 14.06% and a net margin of 7.42%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its position in Yelp by 18.2% during the 3rd quarter. Acadian Asset Management LLC now owns 2,496,166 shares of the local business review company’s stock valued at $103,789,000 after purchasing an additional 384,566 shares during the period. UBS Group AG boosted its position in Yelp by 2,219.2% during the 3rd quarter. UBS Group AG now owns 168,559 shares of the local business review company’s stock valued at $7,010,000 after purchasing an additional 161,291 shares during the period. Dark Forest Capital Management LP acquired a new position in Yelp during the 3rd quarter valued at approximately $976,000. EAM Investors LLC acquired a new position in Yelp during the 3rd quarter valued at approximately $1,786,000. Finally, Assenagon Asset Management S.A. boosted its position in Yelp by 186.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,505 shares of the local business review company’s stock valued at $21,942,000 after purchasing an additional 301,715 shares during the period. Institutional investors and hedge funds own 90.11% of the company’s stock.

Insiders Place Their Bets

In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of Yelp stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $38.83, for a total transaction of $232,980.00. Following the sale, the chief operating officer now directly owns 312,502 shares in the company, valued at approximately $12,134,452.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Joseph R. Nachman sold 6,000 shares of Yelp stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $38.83, for a total value of $232,980.00. Following the completion of the transaction, the chief operating officer now owns 312,502 shares in the company, valued at approximately $12,134,452.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David A. Schwarzbach sold 2,750 shares of Yelp stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $40.63, for a total value of $111,732.50. Following the completion of the transaction, the chief financial officer now owns 258,848 shares of the company’s stock, valued at approximately $10,516,994.24. The disclosure for this sale can be found here. Insiders have sold 14,750 shares of company stock worth $613,213 in the last three months. 7.20% of the stock is owned by insiders.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various 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.