Research Analysts Set Expectations for Yelp Inc.’s Q2 2024 Earnings (NYSE:YELP)

Yelp Inc. (NYSE:YELP) – Equities researchers at Zacks Research reduced their Q2 2024 earnings estimates for shares of Yelp in a research note issued on Monday, August 5th. Zacks Research analyst R. Department now expects that the local business review company will post earnings of $0.24 per share for the quarter, down from their previous estimate of $0.26. The consensus estimate for Yelp’s current full-year earnings is $1.49 per share. Zacks Research also issued estimates for Yelp’s FY2024 earnings at $1.38 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.42 EPS, FY2025 earnings at $1.71 EPS, Q2 2026 earnings at $0.52 EPS and FY2026 earnings at $2.11 EPS.

Several other brokerages have also commented on YELP. Craig Hallum cut their price target on shares of Yelp from $55.00 to $48.00 and set a “buy” rating for the company in a report on Friday, May 10th. Wolfe Research initiated coverage on shares of Yelp in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Morgan Stanley boosted their price target on shares of Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird lowered their price target on shares of Yelp from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Yelp Price Performance

NYSE:YELP opened at $33.33 on Tuesday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 21.23 and a beta of 1.33. The company has a 50 day moving average price of $36.25 and a 200-day moving average price of $38.60. Yelp has a 1-year low of $32.92 and a 1-year high of $48.99.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, May 9th. The local business review company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.04 by $0.16. Yelp had a net margin of 8.44% and a return on equity of 15.69%. The business had revenue of $332.75 million during the quarter, compared to analysts’ expectations of $333.66 million.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP boosted its stake in Yelp by 10.8% in the 4th quarter. Gladius Capital Management LP now owns 2,835 shares of the local business review company’s stock worth $134,000 after buying an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Yelp by 0.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,231 shares of the local business review company’s stock valued at $3,398,000 after purchasing an additional 288 shares in the last quarter. Meritage Portfolio Management lifted its stake in shares of Yelp by 2.2% in the 4th quarter. Meritage Portfolio Management now owns 14,121 shares of the local business review company’s stock valued at $668,000 after purchasing an additional 308 shares in the last quarter. CWM LLC lifted its stake in shares of Yelp by 24.7% in the 2nd quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock valued at $70,000 after purchasing an additional 377 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Yelp by 38.7% in the 4th quarter. Parallel Advisors LLC now owns 1,497 shares of the local business review company’s stock valued at $71,000 after purchasing an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Insiders Place Their Bets

In related news, insider Carmen Orr sold 14,984 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $38.00, for a total transaction of $569,392.00. Following the sale, the insider now directly owns 110,011 shares in the company, valued at $4,180,418. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Carmen Orr sold 14,984 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $38.00, for a total value of $569,392.00. Following the completion of the sale, the insider now directly owns 110,011 shares of the company’s stock, valued at $4,180,418. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph R. Nachman sold 7,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $33.25, for a total value of $232,750.00. Following the sale, the chief operating officer now directly owns 281,842 shares of the company’s stock, valued at $9,371,246.50. The disclosure for this sale can be found here. Insiders have sold 61,068 shares of company stock worth $2,230,340 over the last three months. Company insiders own 7.40% of the company’s stock.

Yelp Company Profile

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various 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.