Yelp Inc (YELP) was Downgraded by Wells Fargo to ” Underperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 13, 2016.
Many Wall Street Analysts have commented on Yelp Inc. Wedbush Initiated Yelp Inc on Jul 8, 2016 to “Neutral”, Price Target of the shares are set at $30.MKM Partners Upgraded Yelp Inc on Jun 30, 2016 to ” Buy”, Price Target of the shares are set at $40.Company shares were Reiterated by Needham on Jun 23, 2016 to “Buy”, Firm has raised the Price Target to $ 34 from a previous price target of $28 .
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 closed down -0.48 points or -1.58% at $29.82 with 24,10,245 shares getting traded on Monday. Post opening the session at $30.55, the shares hit an intraday low of $29.58 and an intraday high of $30.7 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jul 8, 2016, Geoffrey L Donaker (Chief Operating Officer) sold 6,000 shares at $29.07 per share price. According to the SEC, on May 25, 2016, Laurence Wilson (SVP, Legal & User Operations) sold 2,081 shares at $24.84 per share price. On May 25, 2016, Joseph R Nachman (Chief Revenue Officer) sold 2,504 shares at $24.84 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.