Yelp (NYSE:YELP) Shares Up 13.2%

Yelp Inc (NYSE:YELP) shares shot up 13.2% during mid-day trading on Monday . The company traded as high as $19.50 and last traded at $19.39, 1,980,348 shares changed hands during trading. An increase of 60% from the average session volume of 1,236,199 shares. The stock had previously closed at $17.13.

A number of brokerages have issued reports on YELP. Citigroup cut their price objective on shares of Yelp from $41.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, March 31st. Morgan Stanley cut their target price on shares of Yelp from $31.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, March 30th. Aegis reissued a “buy” rating and issued a $45.00 target price on shares of Yelp in a report on Wednesday, February 19th. Evercore ISI assumed coverage on shares of Yelp in a report on Friday, February 14th. They issued a “hold” rating and a $33.00 target price for the company. Finally, Royal Bank of Canada downgraded Yelp from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $40.00 to $35.00 in a research report on Friday, February 14th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $32.43.

The firm has a market capitalization of $1.23 billion, a P/E ratio of 34.63 and a beta of 1.45. The firm has a 50-day moving average price of $26.26 and a two-hundred day moving average price of $32.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.98 and a quick ratio of 3.98.

Yelp (NYSE:YELP) last released its earnings results on Thursday, February 13th. The local business review company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). Yelp had a return on equity of 5.11% and a net margin of 4.03%. The business had revenue of $268.82 million for the quarter, compared to the consensus estimate of $272.81 million. Sell-side analysts predict that Yelp Inc will post 0.35 earnings per share for the current fiscal year.

In related news, insider Laurence Wilson sold 19,043 shares of Yelp stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $36.80, for a total value of $700,782.40. Following the completion of the sale, the insider now directly owns 160,082 shares in the company, valued at $5,891,017.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Boston Partners purchased a new position in Yelp in the fourth quarter valued at about $95,988,000. River Road Asset Management LLC purchased a new position in Yelp in the fourth quarter valued at about $51,892,000. Macquarie Group Ltd. grew its stake in Yelp by 14.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,206,195 shares of the local business review company’s stock valued at $42,013,000 after purchasing an additional 153,199 shares during the last quarter. Geode Capital Management LLC grew its stake in Yelp by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 1,059,341 shares of the local business review company’s stock valued at $36,896,000 after purchasing an additional 45,266 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Yelp by 1.1% in the fourth quarter. Bank of New York Mellon Corp now owns 892,815 shares of the local business review company’s stock valued at $31,097,000 after purchasing an additional 9,844 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

About Yelp (NYSE: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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