Yelp (NYSE:YELP) PT Set at $54.00 by KeyCorp

Yelp (NYSE:YELP) received a $54.00 target price from KeyCorp in a research note issued to investors on Thursday, November 16th. The firm currently has a “buy” rating on the local business review company’s stock. KeyCorp’s price target indicates a potential upside of 25.44% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Barclays reiterated an “equal weight” rating and issued a $36.00 price objective (up previously from $28.00) on shares of Yelp in a research note on Friday, August 4th. B. Riley reiterated a “neutral” rating and issued a $36.00 price objective on shares of Yelp in a research note on Friday, August 4th. Royal Bank Of Canada lifted their price objective on Yelp from $27.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded Yelp from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a research note on Tuesday, August 8th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $45.00 target price (up previously from $36.00) on shares of Yelp in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $43.28.

Shares of Yelp (NYSE YELP) traded down $0.84 during trading hours on Thursday, hitting $43.05. The company had a trading volume of 1,194,377 shares, compared to its average volume of 2,485,865. Yelp has a 1 year low of $26.93 and a 1 year high of $48.40. The firm has a market cap of $3,638.00, a P/E ratio of 199.50, a price-to-earnings-growth ratio of 9.86 and a beta of 1.22.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.30. The business had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $220.75 million. Yelp had a return on equity of 2.20% and a net margin of 2.31%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. equities analysts predict that Yelp will post 0.17 earnings per share for the current fiscal year.

In other news, insider Laurence Wilson sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $44.08, for a total value of $1,102,000.00. Following the transaction, the insider now owns 195,610 shares of the company’s stock, valued at $8,622,488.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $47.59, for a total value of $618,670.00. The disclosure for this sale can be found here. In the last three months, insiders sold 327,956 shares of company stock worth $14,722,108. Corporate insiders own 10.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in YELP. Wellington Management Group LLP acquired a new position in Yelp during the first quarter worth $319,000. Legal & General Group Plc grew its holdings in Yelp by 165.1% during the first quarter. Legal & General Group Plc now owns 23,905 shares of the local business review company’s stock worth $783,000 after acquiring an additional 14,889 shares during the period. Geode Capital Management LLC grew its holdings in Yelp by 8.1% during the first quarter. Geode Capital Management LLC now owns 457,860 shares of the local business review company’s stock worth $14,994,000 after acquiring an additional 34,269 shares during the period. Dimensional Fund Advisors LP grew its holdings in Yelp by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 100,753 shares of the local business review company’s stock worth $3,300,000 after acquiring an additional 3,058 shares during the period. Finally, BlackRock Inc. grew its holdings in Yelp by 3,803.3% during the first quarter. BlackRock Inc. now owns 2,829,444 shares of the local business review company’s stock worth $92,666,000 after acquiring an additional 2,756,955 shares during the period. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

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About Yelp

Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.

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