Yelp (YELP) Downgraded to “Market Perform” at Raymond James

Yelp (NYSE:YELP) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other research analysts have also recently weighed in on YELP. KeyCorp reiterated a “hold” rating on shares of Yelp in a report on Thursday, August 9th. Barclays upped their price target on shares of Yelp from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, August 9th. Stifel Nicolaus upped their price target on shares of Yelp from $40.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of Yelp from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Wednesday, August 15th. Finally, Jefferies Financial Group upped their price target on shares of Yelp from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.29.

Yelp stock opened at $43.50 on Friday. The company has a market capitalization of $3.73 billion, a PE ratio of 621.43, a P/E/G ratio of 7.46 and a beta of 1.29. Yelp has a twelve month low of $36.42 and a twelve month 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 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.07. The company 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%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. Sell-side analysts expect that Yelp will post 0.3 EPS for the current fiscal year.

In related news, Director Geoffrey L. Donaker sold 4,000 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $40.69, for a total transaction of $162,760.00. The sale 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 stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $42.26, for a total transaction of $549,380.00. The disclosure for this sale can be found here. Insiders have sold 223,500 shares of company stock valued at $10,135,885 in the last 90 days. 9.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC bought a new stake in Yelp during the third quarter worth $194,000. Janus Henderson Group PLC bought a new stake in Yelp during the second quarter worth $206,000. Hartford Investment Management Co. bought a new stake in Yelp during the third quarter worth $232,000. Gideon Capital Advisors Inc. bought a new stake in Yelp during the second quarter worth $245,000. Finally, Brasada Capital Management LP raised its position in Yelp by 833.3% during the third quarter. Brasada Capital Management LP now owns 5,600 shares of the local business review company’s stock worth $276,000 after acquiring an additional 5,000 shares in the last quarter. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

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: Compound Annual Growth Rate (CAGR)

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