Yelp (YELP) Price Target Increased to $62.00 by Analysts at Royal Bank of Canada

Yelp (NYSE:YELP) had its price target hoisted by Royal Bank of Canada to $62.00 in a report released on Monday, The Fly reports. The firm presently has an “outperform” rating on the local business review company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 34.64% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Yelp in a research note on Thursday. Zacks Investment Research upgraded shares of Yelp from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Thursday, September 6th. KeyCorp restated a “hold” rating on shares of Yelp 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. Finally, 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. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $48.92.

Shares of Yelp stock opened at $46.05 on Monday. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 508.00, a PEG ratio of 8.30 and a beta of 1.32. Yelp has a 12-month low of $36.42 and a 12-month high of $51.33.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Wednesday, August 8th. The local business review company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.14. The firm had revenue of $234.90 million for the quarter, compared to the consensus estimate of $232.26 million. Yelp had a net margin of 17.64% and a return on equity of 0.74%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. equities analysts predict that Yelp will post 0.28 EPS for the current fiscal year.

In other news, COO Joseph R. Nachman sold 16,303 shares of Yelp stock in a transaction on Friday, August 10th. The shares were sold at an average price of $50.00, for a total value of $815,150.00. Following the completion of the sale, the chief operating officer now owns 131,734 shares in the company, valued at approximately $6,586,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey L. Donaker sold 2,000 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $41.00, for a total transaction of $82,000.00. Following the sale, the director now owns 8,055 shares of the company’s stock, valued at approximately $330,255. The disclosure for this sale can be found here. Insiders sold a total of 209,803 shares of company stock valued at $9,093,475 in the last quarter. 9.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Aperio Group LLC increased its stake in Yelp by 12.9% during the 1st quarter. Aperio Group LLC now owns 11,052 shares of the local business review company’s stock valued at $461,000 after purchasing an additional 1,259 shares in the last quarter. Trexquant Investment LP boosted its holdings in Yelp by 3.7% during the 2nd quarter. Trexquant Investment LP now owns 39,659 shares of the local business review company’s stock worth $1,554,000 after acquiring an additional 1,414 shares during the last quarter. Amalgamated Bank boosted its holdings in Yelp by 16.0% during the 2nd quarter. Amalgamated Bank now owns 12,383 shares of the local business review company’s stock worth $485,000 after acquiring an additional 1,708 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Yelp by 2.0% during the 2nd quarter. Federated Investors Inc. PA now owns 87,520 shares of the local business review company’s stock worth $3,429,000 after acquiring an additional 1,758 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted 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 acquiring an additional 1,760 shares during the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

About Yelp

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.

Read More: Fundamental Analysis

The Fly

Analyst Recommendations for Yelp (NYSE:YELP)

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