Yelp Inc (NYSE:YELP) Expected to Post Quarterly Sales of $247.92 Million

Equities analysts expect that Yelp Inc (NYSE:YELP) will report $247.92 million in sales for the current quarter, Zacks reports. Thirteen analysts have issued estimates for Yelp’s earnings, with estimates ranging from $246.30 million to $250.05 million. Yelp posted sales of $234.86 million during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The business is scheduled to issue its next earnings results after the market closes on Thursday, August 8th.

According to Zacks, analysts expect that Yelp will report full-year sales of $1.02 billion for the current fiscal year, with estimates ranging from $1.00 billion to $1.03 billion. For the next financial year, analysts expect that the firm will report sales of $1.14 billion, with estimates ranging from $1.09 billion to $1.17 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Yelp.

Yelp (NYSE:YELP) last posted its earnings results on Thursday, May 9th. The local business review company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $235.94 million during the quarter, compared to the consensus estimate of $234.96 million. Yelp had a net margin of 6.17% and a return on equity of 4.09%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share.

Several equities research analysts have recently commented on the stock. Aegis raised shares of Yelp from a “sell” rating to a “hold” rating and set a $29.00 target price for the company in a research report on Tuesday, June 4th. Stifel Nicolaus restated a “hold” rating and set a $38.00 price target on shares of Yelp in a report on Friday, May 10th. B. Riley cut shares of Yelp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $42.00 in a report on Friday, May 10th. Morgan Stanley set a $32.00 price target on shares of Yelp and gave the stock a “sell” rating in a report on Monday, July 15th. Finally, SunTrust Banks set a $37.00 price target on shares of Yelp and gave the stock a “hold” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.37.

Several hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in shares of Yelp by 271.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the local business review company’s stock valued at $78,000 after purchasing an additional 1,627 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Yelp during the 2nd quarter valued at $78,000. Pearl River Capital LLC bought a new position in shares of Yelp during the 1st quarter valued at $212,000. Quantamental Technologies LLC bought a new position in shares of Yelp during the 1st quarter valued at $218,000. Finally, Parametrica Management Ltd bought a new position in shares of Yelp during the 1st quarter valued at $266,000. Institutional investors own 99.58% of the company’s stock.

Shares of NYSE:YELP traded down $0.50 during midday trading on Friday, hitting $35.05. 1,387,778 shares of the company’s stock were exchanged, compared to its average volume of 1,622,826. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $34.17. The stock has a market cap of $2.75 billion, a P/E ratio of 77.89, a PEG ratio of 2.10 and a beta of 1.13. Yelp has a 12 month low of $29.33 and a 12 month high of $52.50.

About Yelp

Yelp Inc operates a platform that connects consumers 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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