Yelp Remains Firmly Positive After Early Rally

Ebony Scott
August 4, 2017

Russell Investments Group Ltd. increased its position in Yelp by 98.8% in the second quarter. State Street Corp boosted its position in shares of Yelp by 1.9% in the fourth quarter. Insiders own 10.10% of the company's stock. Dimensional Fund Advisors LP increased its position in Yelp by 14.3% in the fourth quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company's stock valued at $123,000 after buying an additional 2,033 shares in the last quarter. FMR LLC purchased a new position in shares of Yelp during the fourth quarter worth about $12,756,000. First Manhattan Co. acquired a new stake in Yelp during the second quarter worth $11,158,000. Teachers Advisors LLC now owns 423,099 shares of the local business review company's stock worth $16,133,000 after buying an additional 137,513 shares during the last quarter. $119,960 worth of Yelp Inc (NYSE:YELP) was sold by Donaker Geoffrey L on Tuesday, June 6.

Yelp (NYSE YELP) opened at 31.37 on Friday. The stock has a market capitalization of $3.19 billion, a PE ratio of 534.59 and a beta of 1.48.

Yelp shares traded up about 27% to $39.89, after posting an intraday high of $40.45. Shares price isolated positively from its 50 days moving average with 15.67% and remote positively from 200 days moving average with 30.57%. Yelp also saw unusually large options trading on Thursday. Investors purchased 62,135 put options on the stock. This is an increase of 1,632% compared to the average daily volume of 3,587 put options.

The deal, which Yelp disclosed in its Q2 earnings announcement on Thursday, is subject to closing conditions, including antitrust approval. After $-0.06 actual earnings per share reported by Yelp Inc for the previous quarter, Wall Street now forecasts -50.00% EPS growth. The firm had revenue of $209.90 million during the quarter, compared to analysts' expectations of $204.89 million.

XAutoplay: On | Off Futures for the Dow Jones industrial average strengthened 0.2% above fair value, looking to add a ninth day to the index's rally and turn the 22,000 mark into a level of support. Yelp's advertising business, which was hit by an update that caused an advertiser revolt in the first quarter, recovered to post sales of $186.6 million, up from $151.9 million a year ago and beating average analyst estimates of $184.1 million. On average, equities analysts predict that Yelp will post ($0.08) earnings per share for the current fiscal year. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of worldwide copyright law. The legal version of this piece can be accessed at https://www.baseball-news-blog.com/2017/08/04/needham-company-llc-reaffirms-buy-rating-for-yelp-inc-yelp.html.

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YELP has been the topic of several recent analyst reports.

Among 41 analysts covering Yelp (NYSE:YELP), 20 have Buy rating, 4 Sell and 17 Hold.

In a report shared with investors and clients on 4 August, Needham reaffirmed their Buy rating on Yelp (NYSE:YELP) shares. Royal Bank Of Canada decreased their price target on shares of Yelp from $46.00 to $29.00 and set a "market perform" rating for the company in a research note on Thursday, May 11th. The company presently has an average rating of "Hold" and an average price target of $35.76.

The Yelp deal will consolidate GrubHub's market share in big foodie havens such as NY and San Francisco, KeyBanc Capital Markets analyst Brad Erickson wrote in a report. The shares were sold at an average price of $28.23, for a total transaction of $343,728.48. Following the transaction, the senior vice president now directly owns 181,947 shares of the company's stock, valued at $5,136,363.81.

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