Yelp (YELP) Releases Earnings Results, Beats Expectations By $0.09 EPS

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Yelp (NYSE:YELP) issued its quarterly earnings data on Thursday. The local business review company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09, Briefing.com reports. Yelp had a net margin of 17.64% and a return on equity of 0.74%. The firm had revenue of $241.10 million during the quarter, compared to the consensus estimate of $245.55 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Yelp updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.

Yelp stock traded down $11.57 during mid-day trading on Friday, hitting $31.93. The stock had a trading volume of 25,347,120 shares, compared to its average volume of 1,849,004. The company has a market capitalization of $3.73 billion, a P/E ratio of 456.14, a P/E/G ratio of 7.46 and a beta of 1.29. Yelp has a one year low of $29.33 and a one year high of $52.50.

In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $40.69, for a total value of $162,760.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $47.00, for a total transaction of $611,000.00. The disclosure for this sale can be found here. Insiders sold a total of 223,500 shares of company stock valued at $10,135,885 in the last ninety days. 9.00% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board lifted its stake in Yelp by 203.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 111,200 shares of the local business review company’s stock worth $4,357,000 after purchasing an additional 74,500 shares in the last quarter. Tenzing Global Management LLC raised its position in shares of Yelp by 4.0% during the 2nd quarter. Tenzing Global Management LLC now owns 650,000 shares of the local business review company’s stock valued at $25,467,000 after buying an additional 25,000 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Yelp by 5,612.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 36,157 shares of the local business review company’s stock valued at $1,418,000 after buying an additional 35,524 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Yelp by 7.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 26,363 shares of the local business review company’s stock valued at $1,033,000 after buying an additional 1,760 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Yelp by 0.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,131,550 shares of the local business review company’s stock valued at $55,672,000 after buying an additional 3,785 shares in the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.

A number of equities research analysts have recently issued reports on YELP shares. Zacks Investment Research raised shares of Yelp from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Monday, August 27th. Jefferies Financial Group boosted their price objective on shares of Yelp from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. SunTrust Banks set a $50.00 price objective on shares of Yelp and gave the company a “buy” rating in a research report on Wednesday, August 8th. Barclays boosted their price objective on shares of Yelp from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, August 9th. Finally, KeyCorp reissued a “hold” rating on shares of Yelp in a research report on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.89.

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Yelp Company Profile

Yelp Inc operates a platform that connects people 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.

Further Reading: What is an Initial Public Offering (IPO)?

Earnings History for Yelp (NYSE:YELP)

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