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Jefferies Financial Group Brokers Decrease Earnings Estimates for Yelp Inc. (NYSE:YELP)


Yelp Inc. (NYSE:YELPGet Rating) – Equities researchers at Jefferies Financial Group dropped their FY2022 earnings per share (EPS) estimates for Yelp in a research report issued to clients and investors on Tuesday, May 31st. Jefferies Financial Group analyst B. Thill now forecasts that the local business review company will post earnings per share of $1.41 for the year, down from their previous forecast of $1.47. Jefferies Financial Group also issued estimates for Yelp’s Q2 2023 earnings at $0.15 EPS and FY2023 earnings at $1.81 EPS.

Other research analysts have also issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Yelp from $40.00 to $35.00 in a research note on Monday, May 9th. Zacks Investment Research downgraded shares of Yelp from a “hold” rating to a “sell” rating and set a $32.00 price objective for the company. in a report on Monday, May 9th. BMO Capital Markets cut their price objective on shares of Yelp from $42.00 to $37.00 in a report on Tuesday, May 10th. Finally, StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a report on Friday, May 6th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $37.14.

Shares of Yelp stock opened at $29.14 on Thursday. The firm has a market capitalization of $2.07 billion, a PE ratio of 51.12 and a beta of 1.66. Yelp has a twelve month low of $26.42 and a twelve month high of $43.28. The firm’s 50-day moving average price is $32.26 and its 200 day moving average price is $34.07.

Yelp (NYSE:YELPGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The local business review company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. The firm had revenue of $276.60 million for the quarter, compared to analyst estimates of $266.60 million. Yelp had a net margin of 4.14% and a return on equity of 5.82%. Yelp’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the company posted ($0.08) EPS.

In other news, CTO Sam Eaton sold 10,605 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $30.00, for a total transaction of $318,150.00. Following the completion of the sale, the chief technology officer now owns 213,215 shares in the company, valued at approximately $6,396,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David A. Schwarzbach sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $34.24, for a total transaction of $256,800.00. Following the sale, the chief financial officer now owns 214,945 shares of the company’s stock, valued at approximately $7,359,716.80. The disclosure for this sale can be found here. Insiders have sold a total of 58,605 shares of company stock valued at $1,922,710 in the last 90 days. Insiders own 7.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Gotham Asset Management LLC increased its holdings in Yelp by 147.0% in the 3rd quarter. Gotham Asset Management LLC now owns 51,686 shares of the local business review company’s stock valued at $1,925,000 after purchasing an additional 30,760 shares during the last quarter. New York State Teachers Retirement System boosted its position in Yelp by 21.8% in the 4th quarter. New York State Teachers Retirement System now owns 41,194 shares of the local business review company’s stock valued at $1,493,000 after buying an additional 7,379 shares during the period. Point72 Asset Management L.P. purchased a new position in Yelp in the 3rd quarter valued at approximately $13,261,000. Russell Investments Group Ltd. boosted its position in Yelp by 4.5% in the 4th quarter. Russell Investments Group Ltd. now owns 330,038 shares of the local business review company’s stock valued at $11,985,000 after buying an additional 14,316 shares during the period. Finally, Capital Fund Management S.A. boosted its position in Yelp by 42.4% in the 4th quarter. Capital Fund Management S.A. now owns 140,216 shares of the local business review company’s stock valued at $5,081,000 after buying an additional 41,774 shares during the period. Hedge funds and other institutional investors own 88.33% of the company’s stock.

About Yelp (Get Rating)

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.

Further Reading

Earnings History and Estimates for Yelp (NYSE:YELP)



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