Yelp (YELP) Rating Lowered to Market Perform at Raymond James

Yelp (NYSE:YELP) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Friday, Marketbeat.com reports.

Several other research analysts have also commented on YELP. ValuEngine lowered Yelp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. SunTrust Banks set a $50.00 price target on Yelp and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Stifel Nicolaus boosted their price target on Yelp from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, August 9th. Jefferies Financial Group boosted their price target on Yelp from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, Robert W. Baird boosted their price target on Yelp from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report 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 an average rating of “Hold” and an average price target of $42.45.

Shares of YELP traded down $11.57 during trading hours on Friday, hitting $31.93. The company had a trading volume of 25,345,839 shares, compared to its average volume of 1,552,236. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 255.88, a PEG ratio of 7.29 and a beta of 1.29. Yelp has a one year low of $29.33 and a one year high of $52.50.

Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.09. The firm had revenue of $241.10 million during the quarter, compared to analyst estimates of $245.55 million. Yelp had a return on equity of 1.35% and a net margin of 18.04%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. On average, research analysts forecast that Yelp will post 0.3 earnings per share for the current fiscal year.

In other news, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $47.00, for a total value of $611,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Geoffrey L. Donaker sold 4,000 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $40.69, for a total value of $162,760.00. The disclosure for this sale can be found here. Insiders have sold a total of 223,500 shares of company stock worth $10,135,885 over the last ninety days. 9.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in YELP. BlackRock Inc. increased its holdings in shares of Yelp by 28.7% in the second quarter. BlackRock Inc. now owns 7,154,009 shares of the local business review company’s stock valued at $280,295,000 after purchasing an additional 1,597,355 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Yelp by 126.7% in the second quarter. Macquarie Group Ltd. now owns 1,105,663 shares of the local business review company’s stock valued at $43,320,000 after purchasing an additional 617,864 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Yelp by 647.5% in the second quarter. Dimensional Fund Advisors LP now owns 647,466 shares of the local business review company’s stock valued at $25,368,000 after purchasing an additional 560,847 shares during the period. FMR LLC acquired a new position in shares of Yelp in the third quarter valued at about $20,179,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Yelp by 15.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,096,725 shares of the local business review company’s stock valued at $82,149,000 after purchasing an additional 285,890 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Yelp (NYSE:YELP)

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