Aegis Cuts Yelp (YELP) Price Target to $29.00

Yelp (NYSE:YELP) had its price objective lowered by Aegis from $36.00 to $29.00 in a report issued on Friday morning, MarketBeat Ratings reports. Aegis currently has a sell rating on the local business review company’s stock.

Other equities analysts also recently issued reports about the stock. Deutsche Bank downgraded shares of Yelp from a buy rating to a hold rating and dropped their target price for the company from $64.00 to $34.00 in a report on Friday. Raymond James downgraded shares of Yelp from an outperform rating to a market perform rating in a report on Friday. Wedbush downgraded shares of Yelp from an outperform rating to a neutral rating and dropped their target price for the company from $60.00 to $32.00 in a report on Friday. JPMorgan Chase & Co. downgraded shares of Yelp from an overweight rating to a neutral rating and dropped their target price for the company from $57.00 to $36.00 in a report on Friday. Finally, Royal Bank of Canada dropped their target price on shares of Yelp to $38.00 and set a positive rating for the company in a report on Friday. 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. The company presently has a consensus rating of Hold and a consensus target price of $42.45.

Shares of YELP traded down $11.57 during trading hours on Friday, reaching $31.93. The company had a trading volume of 25,345,839 shares, compared to its average volume of 1,450,994. The company has a market capitalization of $3.75 billion, a PE ratio of 498.22, a P/E/G ratio of 7.52 and a beta of 1.29. Yelp has a 12-month low of $29.33 and a 12-month high of $52.50.

Yelp (NYSE:YELP) last posted its earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.09. Yelp had a net margin of 17.64% and a return on equity of 0.74%. The firm had revenue of $241.10 million during the quarter, compared to the consensus estimate of $245.55 million. During the same period last year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts forecast that Yelp will post 0.3 EPS for the current fiscal year.

In other news, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $43.98, for a total transaction of $571,740.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Geoffrey L. Donaker sold 2,000 shares of Yelp stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $46.96, for a total transaction of $93,920.00. Following the sale, the director now owns 8,055 shares of the company’s stock, valued at $378,262.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,500 shares of company stock valued at $10,135,885. Insiders own 9.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Yelp during the third quarter worth about $194,000. Hartford Investment Management Co. purchased a new stake in shares of Yelp during the third quarter worth about $232,000. Janus Henderson Group PLC purchased a new stake in shares of Yelp during the second quarter worth about $206,000. Brasada Capital Management LP grew its holdings in shares of Yelp by 833.3% during the third quarter. Brasada Capital Management LP now owns 5,600 shares of the local business review company’s stock worth $276,000 after buying an additional 5,000 shares in the last quarter. Finally, Gideon Capital Advisors Inc. purchased a new stake in shares of Yelp during the second quarter worth about $245,000. Institutional investors and hedge funds own 86.05% 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.

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