Morgan Stanley Raises Yelp (NYSE:YELP) Price Target to $32.00

Yelp (NYSE:YELP) had its price objective upped by equities researchers at Morgan Stanley from $31.00 to $32.00 in a report released on Friday, Stock Target Advisor reports. The brokerage presently has an “underweight” rating on the local business review company’s stock. Morgan Stanley’s price objective suggests a potential downside of 7.97% from the company’s current price.

Several other equities research analysts also recently weighed in on YELP. Zacks Investment Research downgraded Yelp from a “hold” rating to a “sell” rating and set a $37.00 price target on the stock. in a report on Sunday, July 14th. Evercore ISI set a $38.00 price target on Yelp and gave the stock a “hold” rating in a report on Friday, August 9th. Wedbush set a $38.00 price target on Yelp and gave the stock a “hold” rating in a report on Friday, September 27th. Aegis restated a “buy” rating and set a $45.00 price target on shares of Yelp in a report on Wednesday, October 2nd. Finally, SunTrust Banks set a $37.00 price target on Yelp and gave the stock a “hold” rating in a report on Sunday, November 3rd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Yelp presently has a consensus rating of “Hold” and a consensus price target of $38.69.

Shares of NYSE YELP opened at $34.77 on Friday. The stock’s 50-day moving average is $33.88 and its two-hundred day moving average is $34.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.91 and a quick ratio of 3.91. Yelp has a 1-year low of $29.33 and a 1-year high of $40.99. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 77.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. Yelp had a return on equity of 4.62% and a net margin of 6.26%. The company had revenue of $246.96 million for the quarter, compared to the consensus estimate of $247.63 million. During the same quarter in the prior year, the business earned $0.12 EPS. Yelp’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Yelp will post 0.66 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its position in shares of Yelp by 271.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,371 shares of the local business review company’s stock valued at $47,000 after purchasing an additional 1,002 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Yelp by 379.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,603 shares of the local business review company’s stock valued at $55,000 after purchasing an additional 1,269 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Yelp in the 2nd quarter valued at about $78,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Yelp by 89.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,663 shares of the local business review company’s stock valued at $91,000 after purchasing an additional 1,254 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Yelp by 126.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,786 shares of the local business review company’s stock valued at $162,000 after purchasing an additional 2,668 shares during the period. 92.66% of the stock is owned by institutional investors and hedge funds.

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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