Yelp Inc (YELP) is Reiterated by MKM Partners to Neutral, Raises Price Target to $ 24

Yelp Inc (YELP) was Reiterated by MKM Partners to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 24 from a previous price target of $19 . MKM Partners advised their investors in a research report released on May 6, 2016.

Many Wall Street Analysts have commented on Yelp Inc. Company shares were Reiterated by Mizuho on May 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 24 from a previous price target of $20 .Mizuho Initiated Yelp Inc on Mar 30, 2016 to “Neutral”, Price Target of the shares are set at $20.UBS Downgraded Yelp Inc on Mar 9, 2016 to ” Sell”, Price Target of the shares are set at $17.

On the company’s financial health, Yelp Inc reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.03. The company had revenue of $158.60 million for the quarter, compared to analysts expectations of $155.53 million. The company’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Yelp Inc opened for trading at $24.01 and hit $26.75 on the upside on Friday, eventually ending the session at $26.5, with a gain of 23.72% or 5.08 points. The heightened volatility saw the trading volume jump to 1,64,62,339 shares. Company has a market cap of $2,016 M.

In a different news, on Apr 29, 2016, Geoffrey L Donaker (Chief Operating Officer) sold 6,000 shares at $21.00 per share price. According to the SEC, on Feb 19, 2016, Diane M Irvine (director) purchased 6,100 shares at $16.38 per share price. On Nov 25, 2015, Joseph R Nachman (SVP, Revenue) sold 385 shares at $30.79 per share price, according to the Form-4 filing with the securities and exchange commission.

Yelp Inc. (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences through reviews tips photos and videos and engage directly with businesses through reviews and its Message the Business feature. The Company has a range of communities of contributors across the world that contributes the content on its platform. These contributors provide firsthand information about local businesses in the form of reviews and ratings tips photos and videos. In addition to the business listing and advertising products the Company also offers a range of features and consumer-interactive tools to facilitate transactions between consumers and the local businesses they find on Yelp.

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