Yelp Inc. to Post Q1 2023 Earnings of ($0.10) Per Share, Jefferies Financial Group Forecasts (NYSE:YELP)

Posted by Defense World Staff on Apr 28th, 2023

Yelp Inc. (NYSE:YELP – Get Rating) – Investment analysts at Jefferies Financial Group dropped their Q1 2023 earnings per share (EPS) estimates for shares of Yelp in a research report issued to clients and investors on Monday, April 24th. Jefferies Financial Group analyst B. Thill now expects that the local business review company will post earnings per share of ($0.10) for the quarter, down from their previous estimate of ($0.09). The consensus estimate for Yelp’s current full-year earnings is $0.92 per share. Jefferies Financial Group also issued estimates for Yelp’s FY2024 earnings at $1.81 EPS and FY2025 earnings at $2.53 EPS.

Yelp (NYSE:YELP – Get Rating) last issued its quarterly earnings data on Thursday, February 9th. The local business review company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). The firm had revenue of $309.10 million for the quarter, compared to the consensus estimate of $306.34 million. Yelp had a return on equity of 5.09% and a net margin of 3.05%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS.

A number of other research analysts also recently issued reports on YELP. Wells Fargo & Company boosted their price objective on Yelp from $31.00 to $39.00 in a research note on Monday, February 13th. Credit Suisse Group boosted their price objective on Yelp from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, February 10th. The Goldman Sachs Group upped their price target on Yelp from $32.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, February 10th. StockNews.com initiated coverage on Yelp in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Morgan Stanley upped their price target on Yelp from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, February 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Yelp Trading Up 3.5 %

Shares of YELP opened at $29.55 on Thursday. The company has a market capitalization of $2.05 billion, a PE ratio of 57.94 and a beta of 1.45. Yelp has a 12 month low of $25.30 and a 12 month high of $39.26. The stock’s 50-day moving average price is $29.97 and its two-hundred day moving average price is $30.56.

Insider Activity at Yelp

In related news, CTO Sam Eaton sold 7,121 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $30.00, for a total value of $213,630.00. Following the transaction, the chief technology officer now owns 237,190 shares in the company, valued at $7,115,700. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Yelp news, CTO Sam Eaton sold 7,121 shares of the stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $30.00, for a total transaction of $213,630.00. Following the sale, the chief technology officer now owns 237,190 shares in the company, valued at $7,115,700. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph R. Nachman sold 6,000 shares of the stock in a transaction on Monday, April 10th. The stock was sold at an average price of $30.77, for a total value of $184,620.00. Following the sale, the chief operating officer now owns 339,743 shares in the company, valued at approximately $10,453,892.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,274 shares of company stock worth $765,757. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Yelp

Institutional investors and hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its position in shares of Yelp by 183.1% in the third quarter. Teacher Retirement System of Texas now owns 33,598 shares of the local business review company’s stock worth $1,139,000 after buying an additional 21,732 shares in the last quarter. AXA S.A. bought a new position in Yelp in the third quarter valued at $502,000. Allianz Asset Management GmbH increased its stake in Yelp by 491.0% in the third quarter. Allianz Asset Management GmbH now owns 108,734 shares of the local business review company’s stock valued at $3,687,000 after acquiring an additional 90,337 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new position in Yelp in the third quarter valued at $651,000. Finally, WINTON GROUP Ltd increased its stake in Yelp by 17.1% in the third quarter. WINTON GROUP Ltd now owns 21,975 shares of the local business review company’s stock valued at $745,000 after acquiring an additional 3,203 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Yelp Company Profile

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Yelp, Inc engages in the business of operating a community-driven platform that connects people with great local businesses. The company was founded by Jeremy Stoppelman and Russell Simmons in July 2004 and is headquartered in San Francisco, CA.