Goldman Sachs Group Initiates Coverage on Yelp (YELP)

Goldman Sachs Group started coverage on shares of Yelp (NYSE:YELP) in a research note released on Monday, February 4th, Marketbeat.com reports. The firm issued a buy rating and a $42.00 target price on the local business review company’s stock.

YELP has been the subject of a number of other reports. Zacks Investment Research reiterated a hold rating and set a $48.00 price target on shares of Yelp in a report on Saturday, November 17th. Royal Bank of Canada cut their price target on Yelp to $38.00 and set a positive rating for the company in a report on Friday, November 9th. Robert W. Baird cut their target price on Yelp from $45.00 to $33.00 and set a neutral rating for the company in a research note on Friday, November 9th. Wedbush lowered Yelp from an outperform rating to a neutral rating and cut their target price for the company from $60.00 to $32.00 in a research note on Friday, November 9th. Finally, Wells Fargo & Co set a $34.00 target price on Yelp and gave the company a buy rating in a research note on Friday, November 9th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $39.52.

NYSE:YELP traded down $0.13 on Monday, hitting $37.13. 1,688,292 shares of the company’s stock traded hands, compared to its average volume of 2,458,868. Yelp has a 1 year low of $29.33 and a 1 year high of $52.50. The stock has a market cap of $3.20 billion, a PE ratio of 82.51, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05.

Yelp (NYSE:YELP) last released its earnings results on Wednesday, February 13th. The local business review company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The company had revenue of $243.70 million for the quarter, compared to analysts’ expectations of $241.11 million. Yelp had a return on equity of 3.67% and a net margin of 5.87%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS. Sell-side analysts forecast that Yelp will post 0.7 EPS for the current year.

In other Yelp news, insider Alan Ramsay sold 19,774 shares of the company’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $38.27, for a total transaction of $756,750.98. Following the completion of the transaction, the insider now owns 33,750 shares in the company, valued at approximately $1,291,612.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Geoffrey L. Donaker sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $36.00, for a total transaction of $72,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,030 shares of company stock valued at $1,702,852. 9.00% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in YELP. BlackRock Inc. boosted its position in shares of Yelp by 39.8% in the fourth quarter. BlackRock Inc. now owns 10,848,499 shares of the local business review company’s stock worth $379,588,000 after acquiring an additional 3,088,064 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of Yelp during the fourth quarter valued at $31,000. SQN Investors LP boosted its holdings in shares of Yelp by 43.3% during the fourth quarter. SQN Investors LP now owns 3,337,931 shares of the local business review company’s stock valued at $116,794,000 after acquiring an additional 1,008,338 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of Yelp by 9,220.4% during the third quarter. Glenmede Trust Co. NA now owns 937,637 shares of the local business review company’s stock valued at $46,131,000 after acquiring an additional 927,577 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Yelp by 647.5% during the second quarter. Dimensional Fund Advisors LP now owns 647,466 shares of the local business review company’s stock valued at $25,368,000 after acquiring an additional 560,847 shares during the period. Institutional investors own 96.07% of the company’s stock.

Yelp Company Profile

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.

Further Reading: Market Capitalization in the Stock Market

Analyst Recommendations for Yelp (NYSE:YELP)

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