Morgan Stanley Trims Yelp (NYSE:YELP) Target Price to $31.00

Yelp (NYSE:YELP) had its price objective decreased by investment analysts at Morgan Stanley from $32.00 to $31.00 in a note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an “underweight” rating on the local business review company’s stock. Morgan Stanley’s target price points to a potential downside of 7.77% from the company’s previous close.

YELP has been the topic of several other research reports. ValuEngine raised shares of Yelp from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Aegis reaffirmed a “buy” rating and issued a $45.00 price target on shares of Yelp in a report on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 price target (up previously from $42.00) on shares of Yelp in a report on Friday, August 9th. Wedbush set a $38.00 price target on shares of Yelp and gave the stock a “hold” rating in a report on Friday, September 27th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $46.00 price target (up previously from $45.00) on shares of Yelp in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $38.79.

Yelp stock opened at $33.61 on Tuesday. The stock has a market cap of $2.32 billion, a P/E ratio of 74.69, a PEG ratio of 2.32 and a beta of 0.98. Yelp has a fifty-two week low of $29.33 and a fifty-two week high of $45.45. The firm’s fifty day moving average price is $34.12 and its 200-day moving average price is $34.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.91 and a current ratio of 3.91.

Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $246.96 million for the quarter, compared to analysts’ expectations of $247.63 million. Yelp had a net margin of 6.26% and a return on equity of 4.62%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Sell-side analysts predict that Yelp will post 0.67 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. grew its position in Yelp by 44.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 3,407,793 shares of the local business review company’s stock worth $116,479,000 after acquiring an additional 1,043,745 shares in the last quarter. Fisher Asset Management LLC boosted its position in Yelp by 2.3% during the second quarter. Fisher Asset Management LLC now owns 3,075,596 shares of the local business review company’s stock valued at $105,124,000 after buying an additional 68,669 shares during the period. Soma Equity Partners LP boosted its position in Yelp by 3.8% during the second quarter. Soma Equity Partners LP now owns 2,075,000 shares of the local business review company’s stock valued at $70,924,000 after buying an additional 75,000 shares during the period. Clearbridge Investments LLC boosted its position in Yelp by 5.3% during the first quarter. Clearbridge Investments LLC now owns 1,223,080 shares of the local business review company’s stock valued at $42,196,000 after buying an additional 61,232 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. purchased a new stake in Yelp during the second quarter valued at about $34,444,000. Institutional investors own 92.72% of the company’s stock.

Yelp Company Profile

Yelp Inc operates a platform that connects consumers 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.

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Analyst Recommendations for Yelp (NYSE:YELP)

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