Royal Bank of Canada Trims Yelp (YELP) Target Price to $38.00

Yelp (NYSE:YELP) had its target price lowered by Royal Bank of Canada to $38.00 in a report issued on Friday, The Fly reports. The firm currently has a positive rating on the local business review company’s stock.

A number of other brokerages have also recently weighed in on YELP. Zacks Investment Research upgraded shares of Yelp from a hold rating to a buy rating and set a $55.00 price target for the company in a research note on Thursday, September 27th. Barclays raised their target price on shares of Yelp from $47.00 to $48.00 and gave the stock an equal weight rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Yelp to $57.00 and gave the stock an overweight rating in a research note on Thursday, August 9th. KeyCorp restated a hold rating on shares of Yelp in a research note on Thursday, August 9th. Finally, Jefferies Financial Group raised their target price on shares of Yelp from $53.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $42.45.

NYSE:YELP traded down $11.57 during trading hours on Friday, reaching $31.93. 25,345,839 shares of the company’s stock were exchanged, compared to its average volume of 1,450,994. The stock has a market cap of $3.75 billion, a P/E ratio of 498.22, a P/E/G ratio of 7.52 and a beta of 1.29. Yelp has a 1-year low of $29.33 and a 1-year high of $52.50.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.09. The firm had revenue of $241.10 million during the quarter, compared to analysts’ expectations of $245.55 million. Yelp had a net margin of 17.64% and a return on equity of 0.74%. Yelp’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Analysts anticipate that Yelp will post 0.3 earnings per share for the current fiscal year.

In other Yelp news, COO Joseph R. Nachman sold 10,500 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $44.82, for a total transaction of $470,610.00. Following the completion of the transaction, the chief operating officer now directly owns 109,435 shares in the company, valued at approximately $4,904,876.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $47.00, for a total transaction of $611,000.00. The disclosure for this sale can be found here. Insiders sold a total of 223,500 shares of company stock valued at $10,135,885 in the last quarter. Insiders own 9.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board increased its holdings in Yelp by 79.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 199,100 shares of the local business review company’s stock valued at $9,796,000 after acquiring an additional 87,900 shares in the last quarter. FMR LLC purchased a new position in Yelp during the 3rd quarter valued at about $20,179,000. BlackRock Inc. increased its holdings in Yelp by 8.5% during the 3rd quarter. BlackRock Inc. now owns 7,760,435 shares of the local business review company’s stock valued at $381,814,000 after acquiring an additional 606,426 shares in the last quarter. Cim Investment Mangement Inc. purchased a new position in Yelp during the 3rd quarter valued at about $489,000. Finally, Bank of New York Mellon Corp increased its holdings in Yelp by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 374,148 shares of the local business review company’s stock valued at $18,409,000 after acquiring an additional 3,550 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Yelp Company Profile

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.

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The Fly

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