Zacks Research Weighs in on Yelp Inc.'s Q3 2024 Earnings (NYSE:YELP)

Yelp Inc. (NYSE:YELP - Free Report) - Equities research analysts at Zacks Research upped their Q3 2024 earnings estimates for shares of Yelp in a research note issued to investors on Wednesday, April 17th. Zacks Research analyst R. Department now forecasts that the local business review company will earn $0.51 per share for the quarter, up from their previous forecast of $0.48. The consensus estimate for Yelp's current full-year earnings is $1.53 per share. Zacks Research also issued estimates for Yelp's FY2024 earnings at $1.45 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at $1.95 EPS.

Several other research firms have also recently weighed in on YELP. Raymond James began coverage on shares of Yelp in a research report on Wednesday, March 27th. They set a "market perform" rating on the stock. StockNews.com upgraded shares of Yelp from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.75.

Yelp Trading Down 0.3 %

Shares of Yelp stock traded down $0.12 on Friday, hitting $39.29. 636,803 shares of the company traded hands, compared to its average volume of 764,180. The firm's 50-day simple moving average is $39.13 and its 200 day simple moving average is $42.57. The company has a market cap of $2.68 billion, a P/E ratio of 29.10 and a beta of 1.49. Yelp has a 12-month low of $26.53 and a 12-month high of $48.99.

Yelp (NYSE:YELP - Get Free Report) last posted its earnings results on Thursday, February 15th. The local business review company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $342.38 million for the quarter, compared to analysts' expectations of $341.83 million. Yelp had a net margin of 7.42% and a return on equity of 14.06%. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS.

Institutional Investors Weigh In On Yelp

Large investors have recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. bought a new stake in Yelp in the 4th quarter worth $27,000. Ronald Blue Trust Inc. grew its holdings in Yelp by 96.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 755 shares of the local business review company's stock worth $31,000 after acquiring an additional 371 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in Yelp by 83.6% in the 1st quarter. Dark Forest Capital Management LP now owns 1,166 shares of the local business review company's stock worth $36,000 after acquiring an additional 531 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of Yelp by 221.1% in the 1st quarter. Belpointe Asset Management LLC now owns 1,204 shares of the local business review company's stock worth $37,000 after purchasing an additional 829 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Yelp in the 4th quarter worth about $43,000. Institutional investors own 90.11% of the company's stock.

Insider Activity at Yelp

In related news, COO Joseph R. Nachman sold 6,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $44.75, for a total transaction of $268,500.00. Following the transaction, the chief operating officer now owns 248,976 shares of the company's stock, valued at approximately $11,141,676. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the firm's stock in a transaction on Friday, January 26th. The shares were sold at an average price of $44.75, for a total value of $268,500.00. Following the sale, the chief operating officer now owns 248,976 shares of the company's stock, valued at approximately $11,141,676. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David A. Schwarzbach sold 2,750 shares of the firm's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $40.63, for a total transaction of $111,732.50. Following the completion of the sale, the chief financial officer now directly owns 258,848 shares in the company, valued at approximately $10,516,994.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,750 shares of company stock valued at $613,213. Insiders own 7.20% 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.