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

Raymond James lowered shares of Yelp (NYSE:YELP) from an outperform rating to a market perform rating in a report published on Friday, MarketBeat.com reports.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Yelp from a buy rating to a hold rating in a research note on Friday, September 28th. Wedbush reiterated an outperform rating and issued a $60.00 price target on shares of Yelp in a research note on Thursday, September 13th. Robert W. Baird increased their price target on Yelp from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Thursday, August 9th. Royal Bank of Canada increased their price target on Yelp to $62.00 and gave the stock an outperform rating in a research note on Monday, September 17th. Finally, JPMorgan Chase & Co. increased their price target on Yelp to $57.00 and gave the stock an overweight rating in a research note on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $42.45.

YELP stock traded down $11.57 during trading on Friday, reaching $31.93. The company’s stock had a trading volume of 25,345,839 shares, compared to its average volume of 1,450,994. Yelp has a 1 year low of $29.33 and a 1 year high of $52.50. The firm has a market capitalization of $3.75 billion, a PE ratio of 498.22, a PEG ratio of 7.52 and a beta of 1.29.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.09. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The business had revenue of $241.10 million during the quarter, compared to analyst estimates of $245.55 million. During the same quarter in the prior year, the business posted $0.29 EPS. Yelp’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts anticipate that Yelp will post 0.3 earnings per share for the current fiscal year.

In other Yelp news, Director Geoffrey L. Donaker sold 2,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $46.96, for a total transaction of $93,920.00. Following the completion of the transaction, the director now owns 8,055 shares of the company’s stock, valued at approximately $378,262.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $47.00, for a total transaction of $611,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 223,500 shares of company stock valued at $10,135,885 in the last three months. Insiders own 9.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its holdings in shares of Yelp by 79.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 199,100 shares of the local business review company’s stock valued at $9,796,000 after purchasing an additional 87,900 shares during the last quarter. FMR LLC bought a new position in shares of Yelp in the 3rd quarter valued at about $20,179,000. BlackRock Inc. lifted its holdings in shares of Yelp by 8.5% in the 3rd quarter. BlackRock Inc. now owns 7,760,435 shares of the local business review company’s stock valued at $381,814,000 after acquiring an additional 606,426 shares during the last quarter. Cim Investment Mangement Inc. bought a new position in shares of Yelp in the 3rd quarter valued at about $489,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Yelp by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 374,148 shares of the local business review company’s stock valued at $18,409,000 after acquiring an additional 3,550 shares during the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

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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