Yelp (NYSE:YELP) Releases Earnings Results, Beats Expectations By $0.27 EPS

Yelp (NYSE:YELP) released its quarterly earnings data on Thursday. The local business review company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27, Briefing.com reports. The company had revenue of $357.00 million during the quarter, compared to the consensus estimate of $352.98 million. Yelp had a net margin of 10.01% and a return on equity of 18.71%. Yelp’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. Yelp updated its FY 2024 guidance to EPS.

Yelp Trading Down 0.1 %

YELP stock opened at $33.47 on Monday. Yelp has a twelve month low of $32.56 and a twelve month high of $48.99. The company has a market capitalization of $2.26 billion, a P/E ratio of 21.32 and a beta of 1.33. The business has a 50 day simple moving average of $36.12 and a 200-day simple moving average of $38.40.

Insider Buying and Selling

In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $33.25, for a total value of $232,750.00. Following the transaction, the chief operating officer now directly owns 281,842 shares of the company’s stock, valued at approximately $9,371,246.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 281,842 shares of the company’s stock, valued at approximately $9,371,246.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Sam Eaton sold 26,718 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $36.62, for a total value of $978,413.16. Following the completion of the transaction, the chief technology officer now owns 167,861 shares of the company’s stock, valued at approximately $6,147,069.82. The disclosure for this sale can be found here. Insiders have sold a total of 61,068 shares of company stock valued at $2,230,340 over the last quarter. 7.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

YELP has been the subject of several analyst reports. Wolfe Research assumed coverage on Yelp in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Robert W. Baird decreased their price objective on Yelp from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Craig Hallum cut their target price on shares of Yelp from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Morgan Stanley increased their price objective 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Yelp currently has a consensus rating of “Hold” and an average price target of $40.00.

About Yelp

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.