DA Davidson Initiates Coverage on Yelp Inc. (YELP)

Equities researchers at DA Davidson initiated coverage on shares of Yelp Inc. (NYSE:YELP) in a research note issued on Friday. The brokerage set a “buy” rating and a $51.00 price target on the local business review company’s stock. DA Davidson’s price target would suggest a potential upside of 17.46% from the company’s current price.

YELP has been the topic of several other research reports. B. Riley reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Yelp in a report on Friday, August 4th. Barclays PLC reaffirmed an “equal weight” rating and set a $36.00 price objective (up previously from $28.00) on shares of Yelp in a report on Friday, August 4th. Royal Bank Of Canada raised their price objective on Yelp from $27.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. Zacks Investment Research raised Yelp from a “sell” rating to a “hold” rating and set a $48.00 price objective on the stock in a report on Tuesday, August 8th. Finally, Jefferies Group LLC raised their price objective on Yelp from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and twenty have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $38.95.

Yelp (NYSE:YELP) opened at 43.42 on Friday. Yelp has a 52 week low of $26.93 and a 52 week high of $44.25. The stock has a market capitalization of $3.55 billion, a P/E ratio of 274.81 and a beta of 1.41. The company’s 50-day moving average price is $41.55 and its 200 day moving average price is $34.22.

Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.12. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The company had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. During the same period last year, the firm earned $0.16 earnings per share. Yelp’s quarterly revenue was up 21.0% on a year-over-year basis. Equities research analysts expect that Yelp will post $0.07 EPS for the current fiscal year.

Yelp announced that its board has approved a stock buyback program on Thursday, August 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: “DA Davidson Initiates Coverage on Yelp Inc. (YELP)” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://ledgergazette.com/2017/09/24/da-davidson-initiates-coverage-on-yelp-inc-yelp.html.

In other news, Director Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $43.50, for a total transaction of $261,000.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $417,165. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Geoffrey L. Donaker sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $29.83, for a total transaction of $119,320.00. Following the sale, the director now directly owns 9,590 shares of the company’s stock, valued at $286,069.70. The disclosure for this sale can be found here. Insiders sold a total of 184,240 shares of company stock valued at $7,521,549 over the last ninety days. 10.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in YELP. Bank of New York Mellon Corp grew its stake in shares of Yelp by 4.1% during the 1st quarter. Bank of New York Mellon Corp now owns 235,974 shares of the local business review company’s stock valued at $7,727,000 after buying an additional 9,350 shares during the period. Swiss National Bank grew its stake in shares of Yelp by 14.2% during the 1st quarter. Swiss National Bank now owns 129,264 shares of the local business review company’s stock valued at $4,233,000 after buying an additional 16,100 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Yelp by 46.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 53,227 shares of the local business review company’s stock valued at $1,743,000 after buying an additional 16,766 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Yelp during the 1st quarter valued at $290,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Yelp during the 1st quarter valued at $6,218,000. 90.85% of the stock is owned by institutional investors.

About Yelp

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.

Analyst Recommendations for Yelp (NYSE:YELP)

Receive News & Ratings for Yelp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply