Deutsche Bank Upgrades Yelp Inc to Buy with Price Target $33.00

Brokerage firm Deutsche Bank Upgrades its rating on Yelp Inc(NYSE:YELP). In a research note issued to the investors, the brokerage major Raises the price-target to $33.00 per share. The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Deutsche Bank was issued on Jun 20, 2016.

In a different note, Maxim Group said it Initiates Coverage on Yelp Inc, according to a research note issued on Jun 3, 2016. The shares have been rated ‘Buy’ by the firm. Mizuho Securities said it Initiates Coverage on Yelp Inc, according to a research note issued on Mar 29, 2016. The shares have been rated ‘Neutral’ by the firm.

Yelp Inc (YELP) shares turned negative on Fridays trading session with the shares closing down -1.5 points or -5.05% at a volume of 27,60,136. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $29.249. The peak price level was also seen at $29.249 while the days lowest was $28.15. Finally the shares closed at $28.23. The 52-week high of the shares is $46.25 while the 52-week low is $14.53. According to the latest information available, the market cap of the company is $2,159 M.

Yelp Inc(YELP) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $158.61M. Analysts had an estimated revenue of $155.56M. Earnings per share were $0.08. Analysts had estimated an EPS of $-0.16.

Several Insider Transactions has been reported to the SEC. On Jun 17, 2016, Geoffrey L Donaker (Chief Operating Officer) sold 6,000 shares at $26.59 per share price.Also, 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *