Yelp (YELP) Rating Lowered to Hold at Deutsche Bank

Yelp (NYSE:YELP) was downgraded by investment analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other research firms have also issued reports on YELP. Zacks Investment Research raised shares of Yelp from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Thursday, September 27th. Barclays lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of Yelp to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. KeyCorp reaffirmed a “hold” rating on shares of Yelp in a research note on Thursday, August 9th. Finally, Jefferies Financial Group lifted their price objective on shares of Yelp from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $50.29.

Shares of NYSE:YELP opened at $43.50 on Friday. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 494.78, a P/E/G ratio of 7.46 and a beta of 1.29. Yelp has a 12-month low of $36.42 and a 12-month high of $52.50.

Yelp (NYSE:YELP) last issued its earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. The company had revenue of $241.10 million during the quarter, compared to analyst estimates of $245.55 million. Yelp had a net margin of 17.64% and a return on equity of 0.74%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Equities research analysts expect that Yelp will post 0.3 earnings per share for the current fiscal year.

In related news, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $42.26, for a total value of $549,380.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $40.69, for a total transaction of $162,760.00. The disclosure for this sale can be found here. Insiders sold a total of 223,500 shares of company stock worth $10,135,885 in the last quarter. Insiders own 9.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in shares of Yelp during the 3rd quarter worth about $194,000. Hartford Investment Management Co. bought a new position in shares of Yelp during the 3rd quarter worth about $232,000. Janus Henderson Group PLC bought a new position in shares of Yelp during the 2nd quarter worth about $206,000. Brasada Capital Management LP increased its holdings in shares of Yelp by 833.3% during the 3rd quarter. Brasada Capital Management LP now owns 5,600 shares of the local business review company’s stock worth $276,000 after purchasing an additional 5,000 shares during the period. Finally, Gideon Capital Advisors Inc. bought a new position in shares of Yelp during the 2nd quarter worth about $245,000. Institutional investors own 86.05% 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.

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