Yelp Inc. (NYSE:YELP – Free Report) – Equities researchers at KeyCorp lifted their Q2 2023 EPS estimates for Yelp in a research report issued on Tuesday, August 1st. KeyCorp analyst J. Patterson now expects that the local business review company will post earnings of $0.16 per share for the quarter, up from their prior forecast of $0.13. KeyCorp currently has a “Underweight” rating and a $34.00 price target on the stock. The consensus estimate for Yelp’s current full-year earnings is $1.00 per share. KeyCorp also issued estimates for Yelp’s FY2025 earnings at $1.75 EPS.
A number of other research analysts have also recently issued reports on YELP. Morgan Stanley boosted their price objective on shares of Yelp from $26.00 to $30.00 and gave the company an “underweight” rating in a report on Friday, July 21st. The Goldman Sachs Group upgraded shares of Yelp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $39.00 to $47.00 in a report on Monday, July 17th. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. Craig Hallum began coverage on shares of Yelp in a report on Friday, July 28th. They issued a “buy” rating and a $54.00 price target for the company. Finally, TheStreet upgraded shares of Yelp from a “c+” rating to a “b” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.80.
Yelp Stock Performance
Yelp (NYSE:YELP – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The business had revenue of $337.13 million during the quarter, compared to the consensus estimate of $325.96 million. Yelp had a net margin of 2.94% and a return on equity of 5.49%.
Hedge Funds Weigh In On Yelp
A number of hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in Yelp by 33.5% during the first quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the local business review company’s stock worth $169,000 after buying an additional 1,241 shares in the last quarter. MetLife Investment Management LLC grew its stake in Yelp by 41.2% during the first quarter. MetLife Investment Management LLC now owns 81,542 shares of the local business review company’s stock worth $2,781,000 after buying an additional 23,806 shares in the last quarter. Rhumbline Advisers grew its stake in Yelp by 4.2% during the first quarter. Rhumbline Advisers now owns 196,631 shares of the local business review company’s stock worth $6,707,000 after buying an additional 8,007 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Yelp by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,154 shares of the local business review company’s stock worth $858,000 after buying an additional 2,398 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Yelp by 9.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 39,573 shares of the local business review company’s stock valued at $1,389,000 after purchasing an additional 3,344 shares in the last quarter. 88.46% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Yelp news, CTO Sam Eaton sold 10,181 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $32.31, for a total transaction of $328,948.11. Following the sale, the chief technology officer now directly owns 216,165 shares of the company’s stock, valued at $6,984,291.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Sam Eaton sold 10,181 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $32.31, for a total value of $328,948.11. Following the transaction, the chief technology officer now directly owns 216,165 shares of the company’s stock, valued at $6,984,291.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carmen Orr sold 8,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $32.31, for a total transaction of $258,480.00. Following the completion of the transaction, the insider now directly owns 101,006 shares in the company, valued at $3,263,503.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,517 shares of company stock valued at $3,236,498. 7.20% of the stock is currently owned by corporate insiders.
Yelp Company Profile
Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.
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