Yelp Inc (NYSE:YELP) – Equities researchers at William Blair dropped their Q1 2018 earnings per share estimates for shares of Yelp in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. William Blair analyst R. Schackart now anticipates that the local business review company will post earnings of ($0.07) per share for the quarter, down from their prior estimate of ($0.05). William Blair also issued estimates for Yelp’s Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.16 EPS and FY2018 earnings at $0.23 EPS.
A number of other research firms also recently commented on YELP. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $45.00 target price (up previously from $36.00) on shares of Yelp in a research report on Thursday, November 2nd. B. Riley reaffirmed a “neutral” rating on shares of Yelp in a research report on Tuesday, February 6th. SunTrust Banks set a $50.00 target price on shares of Yelp and gave the stock a “buy” rating in a research report on Thursday, February 8th. KeyCorp set a $54.00 target price on shares of Yelp and gave the stock a “buy” rating in a research report on Thursday, February 8th. Finally, Zacks Investment Research raised shares of Yelp from a “hold” rating to a “strong-buy” rating and set a $54.00 target price for the company in a research report on Thursday, November 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $43.66.
Shares of Yelp (NYSE:YELP) traded up $0.45 on Monday, hitting $43.82. 471,652 shares of the company traded hands, compared to its average volume of 1,746,871. The company has a market capitalization of $3,458.96, a P/E ratio of 25.48, a P/E/G ratio of 6.43 and a beta of 1.14. Yelp has a 12 month low of $26.93 and a 12 month high of $48.40.
In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction on Friday, November 24th. The shares were sold at an average price of $47.59, for a total value of $618,670.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $42.95, for a total transaction of $257,700.00. Following the completion of the sale, the director now owns 9,590 shares in the company, valued at $411,890.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 241,000 shares of company stock worth $10,491,740. 10.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in YELP. Renaissance Technologies LLC increased its holdings in Yelp by 464.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,145,700 shares of the local business review company’s stock valued at $48,074,000 after acquiring an additional 942,600 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Yelp by 171.3% in the 2nd quarter. Northern Trust Corp now owns 968,313 shares of the local business review company’s stock worth $29,069,000 after buying an additional 611,461 shares during the last quarter. State Street Corp increased its holdings in shares of Yelp by 64.2% in the 2nd quarter. State Street Corp now owns 1,477,939 shares of the local business review company’s stock worth $44,365,000 after buying an additional 577,743 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Yelp by 20.8% in the 4th quarter. William Blair Investment Management LLC now owns 3,167,281 shares of the local business review company’s stock worth $132,899,000 after buying an additional 546,282 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Yelp by 10.4% in the 4th quarter. BlackRock Inc. now owns 5,533,628 shares of the local business review company’s stock worth $232,190,000 after buying an additional 521,218 shares during the last quarter. Institutional investors own 90.37% of the company’s stock.
WARNING: “Q1 2018 EPS Estimates for Yelp Inc (NYSE:YELP) Reduced by William Blair” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://ledgergazette.com/2018/02/21/q1-2018-earnings-forecast-for-yelp-inc-yelp-issued-by-william-blair.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Yelp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp and related companies with MarketBeat.com's FREE daily email newsletter.