Yelp to sell Eat24 for US$287.5 million, authorizes share repurchase

Yelp CEO Jeremy Stoppelman

Yelp CEO Jeremy Stoppelman

Other research analysts also recently issued research reports about the stock.

Roth Capital set a $21.00 price target on Yelp Inc. Finally, Royal Bank Of Canada downgraded shares of Yelp from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $49.00 to $27.00 in a research report on Wednesday, May 10th. (The) raised Yelp from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $42.00 to $34.00 in a research report on Wednesday, May 10th.

Among 41 analysts covering Yelp (NYSE:YELP), 20 have Buy rating, 4 Sell and 17 Hold. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of "Hold" and an average price target of $35.76.

Shares of Yelp Inc. About 12.82M shares traded or 452.59% up from the average. The stock has a market capitalization of $3.19 billion, a PE ratio of 534.59 and a beta of 1.48. Keep a close eye on small caps Friday, with the Russell 2000 starting the session down 1.7% for the week, and threatening to mark its first weekly close below its 50-day moving average since May. Investors purchased 62,135 put options on the stock. Yelp reported second-quarter net income of $7.6 million, or 9 cents a share, on sales of $208.9 million, up from results of a penny a share on sales of $173.4 million in the year-ago quarter. The deal also provides Yelp with a financial return, as the sale price more than doubles the $134 million in cash and stock that Yelp paid for Eat24 in 2015.

Yelp's second-quarter revenue rose 20 percent to $209 million, above the $205 million expected by analysts, on average. During the same period past year, the firm earned $0.16 earnings per share. On average, equities analysts forecast that Yelp will post ($0.08) earnings per share for the current fiscal year.

Shares of Yelp (YELP) are up $8.35, or nearly 27%, at $39.72, extending last night's gains, after the company beat quarterly expectations, raised its year revenue outlook, set a $200 million share buyback authorization, and said it will sell its "Eat24" unit to GrubHub (GRUB) for nearly $300 million. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

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In other news, Director Geoffrey L. Donaker sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $35.66, for a total value of $142,640.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Baker Charles sold 12,176 shares worth $343,728. The disclosure for this sale can be found here. Dimensional Fund Advisors LP now owns 97,695 shares of the local business review company's stock worth $3,725,000 after buying an additional 12,259 shares during the last quarter.

Several large investors have recently made changes to their positions in YELP. Ardsley Advisory Partners has invested 0.05% in Yelp Inc (NYSE:YELP). FNY Partners Fund LP now owns 3,750 shares of the local business review company's stock valued at $122,000 after buying an additional 3,730 shares in the last quarter. State Street Corp boosted its position in shares of Yelp by 1.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 194,846 shares of the local business review company's stock valued at $6,381,000 after buying an additional 128,131 shares during the last quarter. Neuburgh Advisers LLC bought a new stake in Yelp during the first quarter valued at approximately $133,000.

Vanguard Group Inc. boosted its position in shares of Yelp Inc.

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