Yelp (NYSE:YELP) Releases Quarterly Earnings, Beats Estimates by $0.31 EPS

Yelp (NYSE:YELP – Get Your Free Report ) released its quarterly earnings data on Thursday. The local business analyst company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.31, Briefing.com reports. Yelp had a net margin of 8.44% and a return on equity of 15.69%. The company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $352.98 million. In the same period last year, the company earned $0.21 per share. Yelp’s revenue for the quarter was up 5.9% compared to the same quarter last year. Yelp updated its FY 2024 guidance to EPS.

Yelp Stock Performance

Shares of Yelp traded down $0.04 during midday trading on Friday, reaching $33.47. 1,354,084 shares of the company traded hands, compared to its average volume of 743,472. The company has a market cap of $2.26 billion, a PE ratio of 21.32 and a beta of 1.33. The stock has a 50-day moving average of $36.12 and a 200-day moving average of $38.49. Yelp has a 12 month low of $32.56 and a 12 month high of $48.99.

Changes in Analyst Ratings

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

Check out the latest stock analysis on YELP

Insider buying and selling on Yelp

In related news, COO Joseph R. Nachman sold 4,941 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $36.53, for a total value of $180,494.73. Following the completion of the transaction, the chief operating officer now directly owns 295,842 shares of the company’s stock, valued at $10,807,108.26. The transaction was disclosed in a legal filing with the SEC, which is available via this link. In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $33.25, for a total transaction of $232,750.00. Following the completion of the transaction, the chief operating officer now owns 281,842 shares of the company’s stock, valued at $9,371,246.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, COO Joseph R. Nachman sold 4,941 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $36.53, for a total value of $180,494.73. Following the completion of the sale, the chief operating officer now directly owns 295,842 shares in the company, valued at $10,807,108.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,068 shares of company stock worth $2,230,340. 7.40% of shares are currently owned by company insiders.

About Yelp

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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, automotive, professional, pets, events, real estate and financial services.

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