Jefferies Group Comments on Yelp Inc’s FY2017 Earnings (YELP)

Yelp Inc (NYSE:YELP) – Analysts at Jefferies Group cut their FY2017 earnings per share estimates for Yelp in a research note issued on Sunday. Jefferies Group analyst B. Thill now expects that the local business review company will post earnings per share of $0.20 for the year, down from their prior estimate of $0.21. Jefferies Group also issued estimates for Yelp’s Q4 2017 earnings at $0.02 EPS and FY2018 earnings at $0.47 EPS.

Several other research firms also recently issued reports on YELP. Zacks Investment Research downgraded Yelp from a “buy” rating to a “hold” rating in a report on Thursday, November 23rd. Piper Jaffray Companies reaffirmed an “underweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Yelp in a report on Thursday, December 7th. Evercore ISI initiated coverage on Yelp in a report on Tuesday, December 5th. They set an “in-line” rating and a $46.00 price objective on the stock. Robert W. Baird upped their price objective on Yelp from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Yelp from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, December 18th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have issued a buy rating to the company’s stock. Yelp has an average rating of “Hold” and an average price target of $43.49.

Yelp (NYSE:YELP) opened at $43.29 on Wednesday. The company has a market capitalization of $3,590.00, a P/E ratio of 188.22, a PEG ratio of 3.92 and a beta of 1.22. Yelp has a 1-year low of $26.93 and a 1-year high of $48.40.

Yelp (NYSE:YELP) last announced its earnings results on Wednesday, November 1st. The local business review company reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.30. The business had revenue of $222.40 million for the quarter, compared to the consensus estimate of $220.75 million. Yelp had a return on equity of 2.20% and a net margin of 2.31%. Yelp’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS.

Several institutional investors and hedge funds have recently added to or reduced their stakes in YELP. Russell Investments Group Ltd. increased its position in shares of Yelp by 98.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after buying an additional 2,033 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Yelp by 85.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 295,390 shares of the local business review company’s stock valued at $8,868,000 after buying an additional 136,444 shares in the last quarter. Rhumbline Advisers increased its position in shares of Yelp by 12.7% in the 2nd quarter. Rhumbline Advisers now owns 87,716 shares of the local business review company’s stock valued at $2,633,000 after buying an additional 9,861 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Yelp by 24.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 294,483 shares of the local business review company’s stock valued at $8,840,000 after buying an additional 58,509 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Yelp by 14.2% in the 2nd quarter. Legal & General Group Plc now owns 27,305 shares of the local business review company’s stock valued at $818,000 after buying an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 85.69% of the company’s stock.

In related news, CEO Jeremy Stoppelman sold 13,000 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $43.50, for a total value of $565,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $43.36, for a total transaction of $260,160.00. Following the completion of the sale, the director now owns 9,590 shares of the company’s stock, valued at approximately $415,822.40. The disclosure for this sale can be found here. Insiders have sold a total of 320,956 shares of company stock valued at $14,328,108 in the last quarter. Corporate insiders own 10.10% of the company’s stock.

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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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