Yelp Inc. (NYSE:YELP) posted its quarterly earnings results on Wednesday. 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, Bloomberg Earnings reports. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business had revenue of $222.40 million during the quarter, compared to the consensus estimate of $220.75 million. During the same quarter last year, the firm posted $0.22 EPS. Yelp’s revenue was up 19.4% compared to the same quarter last year.
Several research firms recently issued reports on YELP. B. Riley reissued a “neutral” rating and issued a $36.00 price target on shares of Yelp in a research report on Friday, August 4th. Royal Bank Of Canada raised shares of Yelp from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $55.00 in a research report on Thursday. Zacks Investment Research raised shares of Yelp from a “hold” rating to a “strong-buy” rating and set a $54.00 price target for the company in a research report on Thursday. Wells Fargo & Company reaffirmed a “market perform” rating and set a $45.00 price objective (up from $36.00) on shares of Yelp in a report on Thursday. Finally, J P Morgan Chase & Co lifted their price objective on shares of Yelp to $52.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $42.87.
Yelp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the local business review company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Geoffrey L. Donaker sold 42,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.00, for a total value of $1,680,000.00. Following the completion of the transaction, the director now directly owns 47,590 shares of the company’s stock, valued at approximately $1,903,600. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Laurence Wilson sold 30,000 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $46.18, for a total value of $1,385,400.00. Following the completion of the transaction, the insider now directly owns 187,739 shares of the company’s stock, valued at $8,669,787.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 366,481 shares of company stock valued at $15,712,350. Corporate insiders own 10.10% of the company’s stock.
Yelp Company Profile
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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